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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
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- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
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