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Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the long term prospects of the market, thus enabling more investments towards new acquisitions. In its latest monthly analysis, shipbroker Golden Destiny noted that second hand bulker purchases during October rose by 40% year-on-year, while in the newbuilding market, activity retreated versus the flurry of ordering during September, but was still higher than the respective month of 2012.
According to the report, "overall, secondhand investments continue to record lower pace of growth compared with newbuildings and demolition activity keeps a downward incline from last year’s levels. Year 2013 is pose to end with the number of new orders surpassing 2,000 for the first time since the end of 2008 and posing a serious high risk on the optimistic expectations for an upturn of the market in the next year “2014”. Bulk carriers and tankers remain in the focus of investors for secondhand purchases with lower purchasing interest for containers. However, October ended with a higher purchasing interest for boxships from last month with focus in the sub-panamax segment", the shipbroker said.
Price-wise, Golden Destiny noted that "secondhand vessel values of bulkers keep increasing from the beginning of the year as charter rates record strong upturn from last year’s weak levels. BDI is now up by 98% year-on-year with the average value of charter rates for capesize vessels, during October, showing a 78% year-on-year increase, 157% year-on-year increase for panamax vessels and 58% year-on-year increase for supramax vessels. According to 5yrs old assessments from the Baltic Exchange, the value of a capesize vessel has shown a 21% increase since the beginning of the year by rising to about $36mil, from about $30mil at the end of October 2012".
It added that "iIn the newbuilding arena, bulkers, tankers, gas tankers and containers still record remarkable upward movements from last year’s ordering activity with the number of newbuilding orders marking new record levels for the first time since the end of 2008. In the bulk carrier segment, shipping players seem to concentrate their interest in the capesize and ultramax segment with Chinese yards winning the largest share of contracts. In the tanker segment, the ordering spree in the MR product segments seems to be endless with South Korean yards holding their leading position in securing of new contracts for such vessel sizes and also for the construction of large LPG or LNG carriers. In the container segment, October marked soft activity in the construction of post panamax boxships of more than 9,000 TEU, but investors have not yet lost their interest for such mega ships".
In total, second vessel purchases across all markets were down 4.7% month-on-month, but 11% up year-on-year, with a total of 144 vessels traded for an invested capital of more than $2 billion, while 23 S&P deals reported at an undisclosed sale price. Similarly, newbuilding orders were down 31% month-on-month and 91% up year-on-year, with 221 vessels contracted for an invested capital of more than $9,1bn, while 82 new orders reported at undisclosed contact price. Demolition activity was down 35% month-on-month and 50% down year-on-year), with 56 vessels sold for disposal of about 2,5mil dwt, 64% year-on-year decline in the number of bulker disposals.
More specifically, in the dry bulk market, newbuilding activity was down 40% month-on-month and 454% up year-on-year, in the number of new orders (72 new orders – 13 new orders October 2012). Chinese yards grasped 61% share of the new orders for bulk carriers in October with strong volume of activity in the handy and ultramax segment (44 new orders won from the total 72 new orders). Overall, capesize newbuilding orders in the frontline as 27 new contracts reported during October from zero contracting business in similar month last year. Handy (30,000-39,000dwt) and ultramax (60,000-67,000dwt) vessel sizes grasp also robust volume of orders, 16 and 13 respectively from 8 new orders placed for handy vessels in October 2012 and zero business for ultramaxes.
Dry bulk secondhand activity was 12% down month-on-month and 40% up year-on-year, in the number of secondhand vessel purchases (60 vessel purchases – 43 vessel purchases October 2012.). Finally, demolition was 38% down month-on-month and 64% down year-on-year in the number of demolitions 20 vessel demolitions – 56 vessel demolitions October 2012). Strong activity in the handy-handymax segment with only one reported vessel disposal in the panamax vessel size and no recorded scrapping activity for capesize units.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Parliament of New Zealand
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
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