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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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Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
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- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- White Energy Company Limited
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
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