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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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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Planning Commission, India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
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