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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, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
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