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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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- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- The University of Queensland
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
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