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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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Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
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- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
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