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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, 17 September 13
BUMA PRODUCED 3.57 PERCENT MORE COAL IN AUGUST
COALspot.com: BUMA has removed totaled 25.20 million bcm of overburden to produce 2.90 million tons coal in August 2013. BUMI produced 3.07 percent ...
Tuesday, 17 September 13
NEWCASTLE PORT SHIPPED ABOUT 27 PERCENT MORE COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 27.26 per cent week on week to 3.01 million mt for ...
Tuesday, 17 September 13
TAIPOWER INVITES BIDS FOR SUPPLY OF SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open tende ...
Tuesday, 17 September 13
ORPHEUS SECURES SIGNIFICANT INFRASTRUCTURE DEAL THROUGH ACQUISITION OF SOUTH KALIMANTAN PORT CAPACITY
COALspot.com : Orpheus Energy Limited (ASX: OEG) of Australia has today announced that, it has executed a binding agreement with the proprietor of S ...
Monday, 16 September 13
WHAT RECOVERY MEANS FOR THE CAPESIZE MARKET - COMMODORE RESEARCH
COALspot.com: The simple fact that capesize rates have been able to increase above the $9,000/mark and become much more responsive to changes in car ...
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- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Parliament of New Zealand
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
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