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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, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
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