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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, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
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- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
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