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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, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
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- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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