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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 $450/ldt for panamax vessels of 3,000-5,000 TEU, and players appear more than willing to proceed with their scrapping decisions as an early recovery of the segment seems to be not feasible in the short term. During January 2014, the average number of weekly reported demolitions was 10 vessels, down by 52% year-on-year from 21 vessels reported on average for disposal
during January 2013", the Piraeus-based shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
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