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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, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
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- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
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