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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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- Merrill Lynch Commodities Europe
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- SMC Global Power, Philippines
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- Binh Thuan Hamico - Vietnam
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- Mintek Dendrill Indonesia
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- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
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- Indika Energy - Indonesia
- Videocon Industries ltd - India
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- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- The University of Queensland
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- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Planning Commission, India
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- Power Finance Corporation Ltd., India
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- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
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- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
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- South Luzon Thermal Energy Corporation
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- Xindia Steels Limited - India
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- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
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- Rio Tinto Coal - Australia
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- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- PTC India Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
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- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
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