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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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Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
Sunday, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
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- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Economic Council, Georgia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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