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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$/ldt", the Piraeus-based shipbroker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
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- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
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