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