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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, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
Wednesday, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
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- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
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