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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, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Mercator Lines Limited - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
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