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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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Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
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