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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, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
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- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
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