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Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expressed in new building ordering activity. The fall of new building prices across the board has been enough to entice many ship owners back in the yards, although, the pace of newbuilding orders is nothing like the previous years. According to the latest monthly report from Golden Destiny's analyst Maria Bertzeletou, investors have continued to exhibit high interest for dry bulk carriers and offshore vessels. A total of 96 orders were placed in a usually "slow" month, on account of summer holidays. These orders represent vessels with a total carrying capacity of about 3.5 million tons and a total invested capital of of more than $5,9 billion, 3% down from July’s newbuilding business and 22% up from previous yearly levels due to a 52% and 150% increase in the ordering activity of bulk carriers and special projects respectively.
In the report, Bertzeletou said that "overall, July and August were months of lower newbuilding business, averaging less than 100 new orders reported worldwide compared with June that ended with 140 new orders reported from a 555% rise in the placement of new contracts for special projects, while April was the “month” of the year with a record of 207 new orders reported from a 152% boost in bulk carriers contracts, 83 new contracts were reported in the bulk carrier segment in contrast with 35 and 23 fresh transactions in August and July respectively.
Bulk carriers still hold a substantial share of the total newbuilding business with 277 orders reported in January-August period from a total of 937 new orders worldwide for all vessel types, 289 reported contracts in the offshore segment, 155 for tankers, 53 for boxships and 78 for gas tankers. However, the fall of newbuilding demand from 2011 and 2010 levels is noticeable, when 1187 new orders were reported worldwide in January-August 2011 with 437 fresh transactions in the bulk carrier, 128 in the tanker, 69 in the gas tanker and 292 in the container segment. In 2010, 1221 new orders had been reported in January-August period, with an impressive number of transactions for bulk carriers, 700 new orders, with only 57 new contracts for boxships, 38 for gas tankers, 85 offshore and a substantial higher amount of newbuilding business in the tanker segment than 2012 and 2011 levels totaling 241 new tanker orders reported".
Another trend observed, which is bound to keep growing the the fact that "Supramax and ultramax vessel eco friendly designs in the bulk carrier segment are in the spotlight of Greek and foreign investors with Chinese yards grasping 66% and 78% share of August and July bulk carriers’ newbuilding activity. In August, Japan also showed some strong volume of newbuilding contracts sealed in the handysize bulk carrier segment of 30,000-39,000dwt, when in July zero volume of business by Japanese yards was reported, with 4 units of 34,000dwt won by Wisdom Marine of Taiwan and 6 units of 35,000dwt by Fednav of Canada" said the report.
It concluded by mentioning that "Hellenic owners keep their conservative strategy in the placement of newbuilding contracts with bulk carriers being their primary focus. Chinese yards won 4 ultramax newbuilding contracts of 64,000 dwt bulkers by Laskaridis Shipping, while Japanese yard IHI Marine United won 2 supramax newbuilding contracts for two 56,000dwt bulker due to the long established relationship of the owner, DST Shipping, with the yard. In August 2011, Chinese yard had won three very large ore capes of 206,000dwt by Polembros Shipping. Overall, Hellenic owners have placed 86 new orders in January-August 2012, 35 new transactions in the bulk carrier segment, 18 for boxships, 17 for gas tankers, 2 pure car carriers and 14 tankers. In a similar period of 2011, Hellenic owners placed 132 new orders in January-August period, 47 new orders in the bulk carrier, a record business in the container segment with 44 new orders, 20 new orders in the gas tanker and 16 new orders in the tanker segment. Year “2010” was an exceptional year for Greek newbuilding business with 215 new orders reported in January-August period, 145 new orders in the bulk carrier, 59 in the tanker, only 4 in the container and 9 in the gas tanker segment".
Meanwhile, in a separate weekly report, Clarkson Hellas said earlier that "the tough financing and market conditions, combined with a more than challenging macroeconomic environment have begun to take their toll in the newbuilding market, with both ship owners and shipyards' earnings performance being dubbed as below par. It added that "the newbuilding market continues to operate within the confines of a tough Macroeconomic environment. This has been highlighted this week by various Owners, with interests across the tanker, container and car carrier sectors, reporting first half losses Y-o-Y. This, in tandem with the similarly subdued earnings being posted by the yards for the same period, continues to highlight the challenging trading environment within which the market is operating" said Clarkson Hellas.
It added that "the Korean MKE (Ministry of Knowledge Economy) has stated that for the first time in the past 19 years, they expect the export value of ships and structures for Korea will decline in 2012, which seems unsurprising given the challenges of the debt market at present, which of course makes investment in the newbuilding market somewhat tough to say the least.
That said, there have still been reports of new business being concluded this week, with the yards proving that economical designs are key to winning new business and it will be those Owners who have cash available for pre delivery instalments, going to be the ones benefiting in the charter market once these ships hit the water" it said.
Source:Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- VISA Power Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Planning Commission, India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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