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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 $450/ldt for panamax vessels of 3,000-5,000 TEU, and players appear more than willing to proceed with their scrapping decisions as an early recovery of the segment seems to be not feasible in the short term. During January 2014, the average number of weekly reported demolitions was 10 vessels, down by 52% year-on-year from 21 vessels reported on average for disposal
during January 2013", the Piraeus-based shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
Monday, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
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- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
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- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
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