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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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Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Australian Coal Association
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
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