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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, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
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- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
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