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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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Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Aditya Birla Group - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
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