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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
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