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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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Thursday, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Planning Commission, India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- White Energy Company Limited
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
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