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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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Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
Thursday, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
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- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- The University of Queensland
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
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