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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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Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
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- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
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