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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, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
Thursday, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST
COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 1 ...
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- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- The University of Queensland
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Planning Commission, India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
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