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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, 01 October 13
DRY BULK MARKET POISED FOR RETREAT ON CHINA HOLIDAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The start of a national weeklong in China as of Tuesday is expected to put a lid in the latest rally of the dry bulk freight market, as has always b ...
Monday, 30 September 13
NEWCASTLE'S COAL EXPORT VOLUME CONTINUES TO SLIP
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 8.38 per cent week on week to 2.67 million mt fo ...
Monday, 30 September 13
PANAMAX CHARTER RATES TOUCHING US$ 18K FOR A TRIP TO NOPAC - CAPT. REDDY
COALspot.com : The freight market continued to remain firm, BDI and the Panamax index up week ended 27 September 2013.
The cape index was fell to ...
Sunday, 29 September 13
API 8 CFR SOUTH CHINA COAL Q3 2014 DELIVERY SWAP GAINED $1.19 M-O-M
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
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- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
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