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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, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
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- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Coal and Oil Company - UAE
- The University of Queensland
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
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