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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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Monday, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
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- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- The University of Queensland
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
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