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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, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
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- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
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