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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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Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
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