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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, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
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- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
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