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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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Friday, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bri ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
Thursday, 05 September 13
DRY BULK MARKET ON A HIGH ROLL, MAINLY THANKS TO CAPESIZE APPETITE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize owners have been rejoycing on the back of renewed optimism for the further rise in the dry bulk market's freight rates, especially when on ...
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- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
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