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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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Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
Wednesday, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
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- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
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