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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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Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
Monday, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
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- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- The University of Queensland
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Planning Commission, India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Australian Coal Association
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
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