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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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Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
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- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
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