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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 $450/ldt for panamax vessels of 3,000-5,000 TEU, and players appear more than willing to proceed with their scrapping decisions as an early recovery of the segment seems to be not feasible in the short term. During January 2014, the average number of weekly reported demolitions was 10 vessels, down by 52% year-on-year from 21 vessels reported on average for disposal
during January 2013", the Piraeus-based shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
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- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
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- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Australian Coal Association
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Planning Commission, India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Karaikal Port Pvt Ltd - India
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- Energy Development Corp, Philippines
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