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