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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, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
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- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Planning Commission, India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
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