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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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Tuesday, 22 October 13
KOWEPO INVITED BIDS FOR MULTI GRADE COAL
COALspot.com - Korea Western Power Co., Ltd. (KOWEPO), a Korean electricity generator intends to procure 240,000 tons of multi grade coal for its Ta ...
Monday, 21 October 13
SOUTH CHINA COAL SWAP FOR 2014 DELIVERIES SHOW A POSITIVE TREND
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.02 percept M-M on Friday 18 October 2013. The CFR South China Co ...
Sunday, 20 October 13
Q3'14 SUB-BIT INDO COAL SWAP CLOSED AT $ 61.80 PMT W/E 18 OCT' 13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 0.93 percept month on month on Friday 18 October 201 ...
Saturday, 19 October 13
NICKEL ORE SHIPMENTS KEEP SUPRAMAX CHARTER RATES STEADY - CAPT. REDDY
COALspot.com : The futures freight market continued to go down which was reflected in the physical markets as well.
The BDI continued to be soft ...
Friday, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
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- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Australian Coal Association
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