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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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Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
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- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
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