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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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Saturday, 12 October 13
PANAMAX: OWNERS ARE AT US$ 17-18.5K PER DAY; CHARTERERS ARE AT US$ 15.5-16K - CAPT. REDDY
COALspot.com - The futures market was heavily down on the cape size vessels and the physical average charterer rates on cape size vessels dropped by ...
Friday, 11 October 13
DRY BULK FREIGHT RATE POSITIVE MOMENTUM TO BE SUPPORTED BY HIGHER DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO released its latest short term research on the shipping markets, estimating that the elevated level of Capesize TC average rates i ...
Friday, 11 October 13
US COAL PRODUCTION FALLS 7.70% IN SEPTEMBER
COALspot.com – United States the world’s second largest coal producer produced approximately 17.70 million short tons (mmst) of coal in ...
Thursday, 10 October 13
NPC AUSTRALIA SHIPPED 2.99 MILLION TONS OF COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.04 per cent week on week to 2.99 million mt for ...
Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
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- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
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- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
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