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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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Tuesday, 03 December 13
PORT OF NEWCASTLE IN QUEENSLAND SHIPPED 1.22 MMT MORE COAL W-W
COALspot.com: In the week ended December 2, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.49 ...
Tuesday, 03 December 13
U.S PRODUCED 900.80 MMST YEAR-TO-DATE
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.7 million short tons (mmst) of coal in ...
Monday, 02 December 13
SUB-BIT INDONESIA COAL SWAP DIFFERENCE BETWEEN Q1 AND Q3 DELIVERIES ARE VERY MARGINAL
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.67 pmt month on month on Friday 29 Novemb ...
Sunday, 01 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR Q2 AND Q3 DELIVERY SHOWS A DECLINE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.63 percept d-d on Friday 29 November 2013. The CFR South ...
Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
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- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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