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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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Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of mark ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
Monday, 23 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 3 PERCENT LESS COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 3 per cent week on week to 2.92 million mt for t ...
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- Chamber of Mines of South Africa
- Economic Council, Georgia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
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