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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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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- White Energy Company Limited
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- The University of Queensland
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Minerals Council of Australia
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