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