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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, 10 September 13
COAL EXPORTS AT AUSTRALIA'S NEWCASTLE PORT SLIP 30.31% ON WEEK TO 2.36 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port down 30.31 per cent week on week to 2.36 million mt f ...
Tuesday, 10 September 13
WORLDWIDE COAL CONSUMPTION RISES SHARPLY - RA DR. ERICH SCHMITZ
By: RA Dr. Erich Schmitz, Verein der Kohlenimporteure (Germany Coal Importers Association)
World hard coal market in the first half of 2013: worl ...
Monday, 09 September 13
REBOUND IN NEWBUILDING ORDERS HASN'T HURT DRY BULK MARKET PROSPECTS, BUT SHIP OWNERS SHOULD STILL BE CAUTIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Since the start of 2013 and up until the end of August, one thing has really caught the headlines in the dry bulk market, except of course, the frei ...
Sunday, 08 September 13
Q3 2014 THERMAL COAL SWAPS : STEADY DIRECTION
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery up 1.88 percent month on month. The swap was moved ...
Sunday, 08 September 13
BALTIC INDEX UP ON HIGHER CAPESIZE, PANAMAX RATES
COALspot.com : The freight market continued saw one of the biggest rally last week with Cape Size taking the lead followed by Panamax.
The BDI wa ...
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- Indika Energy - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- PTC India Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
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