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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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Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
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