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Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more cargoes and are more keen to keeping debt-free older carriers out at sea, since they're generating the most amount of profits. This trend has prevailed once more, as both the dry bulk and the tanker markets, especially for larger vessels have trended higher over the past couple of months.
According to the latest weekly report from shipbroker Golden Destiny, demolition activity over the past few days has been brought to a standstill, as a result of higher freight rates. "Scrap prices hold firm in the subcontinent region, while market fundamentals are not currently supportive for the long term’s solidness. Rupees in India and Pakistan do not encourage end buyers for high offers, while the vague political situation in Bangladesh with upcoming elections on January 5th has put a break on end buyers’ appetite. In China, there is still no pick up of activity with China’s Ministry of Transport, Ministry of Finance, NDRC and MIIT releasing a new scrap policy in order to facilitate the transformation of the country’s shipping industry. The policy will offer subsidies of RMB1,500 per gt to shipping companies that scrap vessels before their expiration dates and at the same time order new vessels. The total tonnage of the new order vessels shouldn’t be less than the total tonnage of scrapped vessels and all the vessels should be Chinese flagged. Half of the subsidy will be paid on completion of scrapping and the other half after the completion of the newbuildings", Golden Destiny noted in its report.
In total, there've been just five vessels disposal, with a total deadweight of 165,684 tons. The number is 58% down on the week, while in terms of dry bulk carriers scrapped, the fall over the previous week is 100%. Meanwhile, in the tanker segment, there were no vessel disposals.
"Benchmark scrap prices in the Indian subcontinent region: $400/ldt for dry and $420-$430/ldt for wet cargo. Scrap prices in China hover at $330/ldt for dry and $340/ldt for wet cargo. At a similar week in 2012, demolition activity was up by 320%, in terms of the reported number of transactions, when 21 vessels had been reported for scrap of total deadweight 544.736 tons with 9 disposals for bulkers, 2 for liner, 5 liners, 4 containers,1 reefer. Ship-breakers in Indian subcontinent region had been offering $375-385 for dry and $410-$415/ldt for wet cargo", Golden Destiny said.
Meanwhile, in the newbuilding ordering activity, contracts have kept on pouring. In total, over the week, there were reported orders for a total of 97 vessels with a deadweight of 6.9 million tons, but 71 of those orders were done at an undisclosed price. The invested capital revealed was about $2,33bn for 26 new orders. (44 bulkers, 28 tankers, 5 gas tankers, 4 passenger/cruises and 16 special projects). Newbuilding activity is up 8% on the week and 288% on the year. The largest volume of newbuilding activity is reported in bulk carrier segment with focus in the capesize/ kamsarmax/ ultramax segments. Orders for bulk carriers held 45% share of this week’s ordering activity, while tankers took an additional 19%. But, tanker ordering has commanded the biggest rise of 75% versus the previous week.
According to a weekly report from Clarkson Hellas, it was "another week of ordering across the sizes in the dry bulk market, with orders to report from Ultramax up to Capes. Starting with the larger sizes and Beihai are understood to have taken an order for one firm plus one option 250,000 DWT VLOC from Sincere Navigation Corporation Enterprises with delivery of the firm vessel in 2016. Beihai have also signed one firm plus one option 180,000 DWT Capesize from Bao-Island Enterprises for 2016 delivery for the firm unit. We understand that Korea Line Corporation have placed orders for three firm 207,000 DWT Newcastlemax and one firm 180,000 DWT at Daehan S.B. with deliveries from 2Q 2016 onwards. For Kamsarmax Clients of Great Eastern Shipping are understood to have placed an order of three firm units at Jiangsu New YZJ for deliveries spreading from 2Q 2016 to3Q 2016. More Kamsarmax orders were there for Jinling from SDTR Marine, a JV between Shandong Spg and Transcenden, for six firm plus four option 82,000 DWT BCs. The deliveries for this orders starts from 4Q 2015 till 4Q 2016 for the firm vessels. For smaller sizes Horizon Denizcilik are understood to have signed four firm 64,000 DWT BCs with Zhejiang Yangfan for deliveries in 2015 & 2016, and finally Primebulk has also placed orders of four firm Ultramax at New Times in China.
In wet, Korean yards have taken some significant amount of orders starting with Hyundai Mipo’s contract of nine firm 50,000 DWT and five firm 40,000 DWT Product Tankers with BP Shipping. The deliveries are spread in 2016 and 2017. Also, it is understood that DSME also received orders from Tsakos Energy Navigation for five firm plus four option 112,700 DWT Crude Oil Tankers which are being built against Statoil business, with deliveries from 2Q 2016 onwards", Clarkson Hellas said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
Tuesday, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
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- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
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