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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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Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
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- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- PTC India Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
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