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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, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
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- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
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