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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, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
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- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
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