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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, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
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- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Siam City Cement - Thailand
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