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