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