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Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling their older vessels and, thus, helping remove part of the tonnage which has been looking for cargoes to no avail. With the dry bulk carrier fleet still on the rise, in a much faster pace than the increase of cargoes available, owners have no choice but to make room for the younger vessels entering the fleet.
According to the latest update on demolition activity from Athenian Shipbroker, “the total estimated capacity of tonnage recycled up to now this year has surpassed the whole turn-round for the year 2011, however sentiment in the recycling market continues to weaken as is evident from the sliding prices on offer by both Indian and Pakistani breakers. The Bangladeshi market seems to have been hit the hardest, with levels presently ranging between usd 370-395/ton and plenty of vessels that are already in cash buyers hands awaiting resale to local shipyards. while China remains pinned down due to local market woes, it is expected that even more tonnage will be diverted from the Pacific Basin towards the still more active sub-continent. What the impact of the continuous stream of vessels heading for demolition will spell for prices on offer remains to be seen” said the shipbroker.
In a separate report Lion Shipbrokers noted that “this week’s subcontinent’s rates continue to deteriorate (about $10 since last week) due to vast oversupply of tonnage. Cash buyers and scrap-yards alike, are “cherry-picking” available ships in the demo-market, thus driving prices further down. Rates are currently ranging between $380-$400 for bulkers, $395-$410 for tankers & $395-$405 for container vessels. China is soft paying $290-$305 while Turkey has weaken by $10 paying $305-$310 for bulkers, $320-$330 for containers & tankers.
Meanwhile, in the newbuilding markets this week, according to Clarkson Hellas, "whilst the World's shipbuilders converged in Hamburg last week for SMM 2012, with seemingly busy diaries, we are unfortunately yet to see too much fresh interest emerge from this and new enquiry continues to remain somewhat subdued. Despite this, the week has still seen some reports of new orders being placed, although these in the slightly more niche sectors such as the Car Carrier, Shuttle Tanker and Gas markets, which continue to offer the shipyards support. The overall market conditions continue to remain a challenge for the shipyards. Over the next 6 months, we continue to expect to see a consolidation of shipyard capacity (within China in particular), as a number of yards look to scale back their production and in doing so try to limit their exposure to lower priced contracts" mentioned Clarkson Hellas.
It added that "that being said, the number of contracts placed YTD stands at only 60% of last year’s equivalent (725 vessels in 2012 to date, compared to 1156 contracted Jan‐Sep 2011) and because of this there remains a large amount of production capacity still available from the yards in 2014. As witnessed throughout the year, competition amongst the yards will continue to remain fierce within the conventional sectors. Levels of demand in the market continue to remain limited and are being caused by the tight fiscal circumstances that many owners find themselves forced to operate in. This situation remains unlikely to change in the short term and therefore do expect competitively priced opportunities, including for the very latest economical designs, will become increasingly prevalent amongst the yards as they look to fill their outstanding production slots.
In terms of reported business; In Tankers, clients of AET Tanker Holdings are reported to have placed an order for a pair of 120,000dwt DP2 Shuttle Tankers at an un‐named Korean Shipyard. The yards, which we understand to be Samsung Heavy Industries will deliver the vessels from within 2014. Pricing has not been disclosed. In Gas, Hudong are reported to have won the order from China Shipping LNG for 4 x 174,000cbm LNG carriers. The vessels are expected to deliver from 2015 and through to 2017 but again no specific pricing has been mentioned, for this domestic order. The deal is understood to have options for a further 2 units attached.
Finally, Hyundai Mipo are reported to have won an order for one additional 6,600 CEU PCC from their existing client Ray Shipping. This will bring the total number of these units on order at the yard to 6 vessels and this latest unit will also deliver in 2014" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
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- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
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