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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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Thursday, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
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