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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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Wednesday, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
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- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- PTC India Limited - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
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