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