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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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- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- White Energy Company Limited
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
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