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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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Monday, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
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- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- PTC India Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
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