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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 $450/ldt for panamax vessels of 3,000-5,000 TEU, and players appear more than willing to proceed with their scrapping decisions as an early recovery of the segment seems to be not feasible in the short term. During January 2014, the average number of weekly reported demolitions was 10 vessels, down by 52% year-on-year from 21 vessels reported on average for disposal
during January 2013", the Piraeus-based shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- PTC India Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
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