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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, 28 October 13
API 8 CFR SOUTH CHINA COAL FOR Q3'14 DELIVERY LOST ON D-D,W-W & M-M
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.22 percept M-M on Friday 25 October 2013. The CFR South China Co ...
Monday, 28 October 13
COAL SWAP FOR Q3' 2014 DELIVERY LOST ON D-D, W-W AND M-M
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.46 percept month on month on Friday 25 October 2 ...
Saturday, 26 October 13
PANAMAX CHARTER RATES FROM INDONESIA TO INDIA STAY FIRM - SOLYM
COALspot.com: The freight market showed tendency of softness with Cape and Panamax futures and physical soft.
The BDI was down by 12 pct week end ...
Saturday, 26 October 13
DRY BULK MARKET KEEPS ON RETREATING, BUT NEW BUILDING ORDERS KEEP ON PILING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market kept on retreating this week, with the industry's benchmark, the Baltic Dry Index (BDI) falling to 1,708 points, down 78 on the ...
Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
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- Merrill Lynch Commodities Europe
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- Salva Resources Pvt Ltd - India
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- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
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- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
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- Wilmar Investment Holdings
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- Standard Chartered Bank - UAE
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- London Commodity Brokers - England
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- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- VISA Power Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
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- New Zealand Coal & Carbon
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- Australian Coal Association
- The University of Queensland
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- Australian Commodity Traders Exchange
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- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
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- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
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- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
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