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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$/ldt", the Piraeus-based shipbroker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
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