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Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply of tonnage, which has plagued most shipping markets over the past couple of years. As such, it can only be deemed a good thing that owners scrapped a total of 1,119 ships over the course of 2013, making it an exceptional year for the ship breaking industry. According to figures compiled by shipbroker Lion Shipbrokers, "the majority of scrapped tonnage was bulkers, followed by general cargo vessels, containers, tankers and passenger-ships, while India held the lion’s share.
The New Year 2014 started positively as breaking yards in Subcontinent are hungry for new tonnage. Local currencies have finally settled down and steel prices have stabilized. Although upcoming elections in February are disturbing the Bangladesh scene, levels and demand remain healthy, with expectations for prices being optimistic, mainly due to the fact that yards remained empty during the last 2 months (due to political instability). Pakistan market remained stable while India is back, securing high profile tonnage (with the local currency being stable against the US dollar). Chinese market is active mainly due the subsidies available to the yards for scrapping Chinese domestic owned tonnage and their renewal of licenses before Chinese New Year holidays", Lion Shipbrokers noted.
Meanwhile, in a separate report, Golden Destiny noted that "2013 ended with scrapping business being at 26% lower levels, in terms of number of vessels, than the historical highs of 2012, but still standing at robust amount as 968 vessels reported to have been headed to the scrap yards with accumulated dwt of more than 44mil tons. During 2012, 1309 vessels reported for disposal at total deadweight of about 61mil tons", the shipbroker said.
It added that "with the opening of New Year, benchmark scrap prices in the Indian subcontinent region are standing at firm levels, with India being the most competitive by offering $410/ldt for dry and $440/ldt for wet. The Indian currency fundamentals and local steel prices are supporting the current high price momentum, while in Bangladesh; the upcoming elections have created confusion and lower activity. In China, prices have picked up by $10/ldt for dry and wet cargo and the recent government incentives for Chinese owners to scrap their vessels locally may boost further the price sentiment during the first quarter of the year".
In total, over the past week, demolition activity was 71% down on the week, with a 70% decrease of dry bulk vessel scrapping and a 60% decline in tanker and container ship scrapping. "In terms of deadweight sent for scrap, there has been 67% weekly decrease with 1 demolition deal reported for large vessel size, 1 panamax bulker. China is reportedly to have won 4 of the 7 demolition transactions, 2 India, 1 Pakistan, while there was no reported activity for Bangladesh. Benchmark scrap prices in the Indian subcontinent region: $400-410/ldt for dry and $430-$440/ldt for wet cargo. Scrap prices in China hover at $340/ldt for dry and $350/ldt for wet cargo. At a similar week in 2013, demolition activity was up by 5%, in terms of the reported number of transactions, when 19 vessels had been reported for scrap of total deadweight 975,406 tons with 9 disposals for bulkers, 1 tanker, 1 liner and 7 containers. Ship-breakers in Indian subcontinent region had been offering similar levels of the current year, $400-410/ldt for dry and $425-$435/ldt for wet cargo", Golden Destiny said.
Finally, according to Intermodal's latest weekly report, it was noted that after the demolition market "pulled back as the year kicked off, it seems that some of the lost ground has now been covered and sentiment has started to strengthen across the Indian Sub-Continent once again. Indian breakers were confident enough to increase their bids on dry units on the back of the Indian Rupee behaving steadily and steel prices settling to levels that provided confidence to local buyers, who manage to snap the majority of vessels reported heading for scrap this week. At the same time, Bangladesh seems to have steadily started coming out of the political unrest as the existing government managed to stay in place after the general elections that took place on the 5th of January, which restored some of the market confidence at least for now. The rest of the market remained quiet with Pakistani and Chinese breakers choosing to sit on the sidelines, while both prices and activity reflected that very lack of interest from end buyers in both countries. Average prices this week for wet tonnage were at around 350-445$/ldt and dry units received about 340-435$/ldt", the Piraeus-based shipbroker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
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- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- VISA Power Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
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