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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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Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
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- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
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