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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 $450/ldt for panamax vessels of 3,000-5,000 TEU, and players appear more than willing to proceed with their scrapping decisions as an early recovery of the segment seems to be not feasible in the short term. During January 2014, the average number of weekly reported demolitions was 10 vessels, down by 52% year-on-year from 21 vessels reported on average for disposal
during January 2013", the Piraeus-based shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
Thursday, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
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- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
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