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Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding ordering activity. According to data compiled by shipbroker Golden Destiny, ship owners invested in 133 new building orders, a number which was 280% higher than the same month of last year, when a mere 33 newbuilding dry bulk carriers were contracted.
According to the report, a weak sentiment in the dry bulk market has poured from the Chinese Lunar New Year, but it doesn't seem to faze ship owners, in terms of their belief in the future positive prospects of the market. After all, despite the fall of the Baltic Dry Index (BDI), it still averaged 1,472 points during January, well above the equivalent month of 2013 (771 points), albeit 32.4% lower than December of 2013 (2,178 points). In any case, "shipping players retain their high confidence and continue their pace of investments at overwhelming levels for secondhand and newbuilding vessels. Ultramax vessel newbuilding design appears to be the new trend in bulk carriers’ newbuilding business, leaving supramax and kamsarmax vessel designs out of competition", said the shipbroker.
In total, "Chinese yards grasped 64% share of the new orders for bulk carriers in January with strong volume of activity in the ultramax and capesize segment (84 new orders won from the total 133 new orders). Japanese yards won also firm business with 28 new orders sealed, from only 5 new orders in January 2013, from high levels of business in the ultramax segment. Overall, ultramax vessels (60,000-67,000dwt) grasped the lion share of bulk carriers’ ordering activity (32%) share with 42 new orders, from only 5 new orders reported in January 2013. Capesize newbuilding orders are also in the frontline as 28 new contracts reported during January from only 4 new contracts in similar month last year. Overall, Handymax vessels (40,000-49,999) grasped 14% share with 18 new orders, from zero contracting activity reported last year due to new designs of 43,000dwt emerged in this category. Supramax vessels (50,000-59,999dwt) held 8.3% share with 11 new orders from 2 in January 2013 and kamsarmax (79,000-87,000dwt) 20% share with 26 new orders from 5 in last year", Golden Destiny said.
Meanwhile, sentiment is even stronger in the second hand vessel market for dry bulk carriers. According to the shipbroker's report, activity was 39% higher on the month and 114% higher on the year. In total there were 75 vessel purchases reported for an invested capital of more than $1.2 billion, versus just 35 bulkers which were acquired during January of last year. Golden Destiny reported strong purchasing activity for vessels built Japan and China with focus from handy to supramax vessel categories. There was also reported buying interest in the ultramax, kamsarmax and capesize segments mainly for newbuilding resales and modern vessels up to 5yrs old.
According to the report, "overall (including all other major segments), S&P activity in the secondhand market for January 2014 ended on a much higher level than January 2013 and January 2012. For January 2014, the average number of weekly reported S&P transactions for secondhand vessels reached 40, up by 82% year-on-year, compared with 22 vessels in January 2013 and 20 vessels in January 2012. In the newbuilding market, ordering activity emerges the same solid with the record levels of December 2013, despite its soft decrease. During January 2014, the average number of weekly reported new orders was 78 vessels, from 84 vessels in December 2013 and 72 vessels in November 2013. Compared with January 2013 levels, the newbuilding business in up by 105% year-on-year, when in January 2013, the average number of weekly reported new orders was 38 vessels and only 14 vessels in January 2012.
Finally, in terms of demolition activity, as was expected, numbers are down, as a result of higher rates. Scrapped dry bulk vessels were down 30% on the month and 63% down on the year, with just 14 vessels being sold for scrap over January, versus 38 during the same month of 2013. Additionally, activity was limited in the handy-handymax vessel sizes, while Capesize and Panamax vintage tonnage was left out of the demolition equation.
Overall, "in the demolition market, scrapping business showed declining levels as shipping players reduced significantly their appetite for disposal during the last quarter of last year, mainly due the upturn of the freight market in the dry/tanker segment. However, benchmark scrap prices rose to very firm levels of excess $400/ldt from improving currency issues and local steel prices in the Indian subcontinent region. In the container segment, there is a firm interest for disposal with India offering very encouraging levels of more than $450/ldt for panamax vessels of 3,000-5,000 TEU, and players appear more than willing to proceed with their scrapping decisions as an early recovery of the segment seems to be not feasible in the short term. During January 2014, the average number of weekly reported demolitions was 10 vessels, down by 52% year-on-year from 21 vessels reported on average for disposal
during January 2013", the Piraeus-based shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
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