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