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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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Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
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- The Treasury - Australian Government
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- Economic Council, Georgia
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- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
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- Thiess Contractors Indonesia
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- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
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- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
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- Anglo American - United Kingdom
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- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- The University of Queensland
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- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Karaikal Port Pvt Ltd - India
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- Indian Energy Exchange, India
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- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
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- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
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- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
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