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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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Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
...
Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
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- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
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