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Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fuelling the latest wave of newbuilding orders, with dry bulk carriers "stealing the show". According to the latest weekly report from shipbroker Clarkson Hellas, there was a number of orders to be reported in the dry bulk segment, "starting with a large order of twelve firm plus eighteen option 64,000 DWT Ultramax from Minsheng Financial Leasing at their compatriot yard in China, CIC Jiangsu. The vessels will be delivered from 2015", the shipbroker said.
It added that "it is also known that Victoria Steamship contracted one firm plus three option 95,000 DWT Bulk Carriers at Jiangsu Eastern due for delivery from 3Q 2015 onwards. It has come to light that clients of Shandong Bohai have placed orders for two firm plus option two 82,000 DWT Kamsarmax at Dayang Shipbuilding. From Korea, it is understood that Polaris Shipping have declared their option for the third 300,000 DWT VLOC at Hyundai Heavy Industries Gunsan shipyard for delivery in 2Q 2017. Previously, the Korean owner had also declared an option for their second 207,000 DWT Newcastlemax at Daehan Shipbuilding for delivery in 3Q 2016", Clarkson Hellas noted.
Ship owners are encouraged to invest in the dry bulk segment, with the Baltic Dry Index (BDI) now in the range of 1,500 points. The latest round of gains is attributed on the Capesize and Supramax market firmness, while the Panamax market is still experiencing weakness. According to the latest weekly report from shipbroker Golden Destiny, "the BDI seems to have regained its strength as capesize vessels are finding their strong levels that seem to have lost from the beginning of Chinese Lunar New Year. Chinese demand for imported iron ore has now improved pushing capesize rates to levels of more than $20,000/day, from less than $10,000/day during the first days of February. In the panamax segment, rates are still struggling at maintained levels of less than $9,000/day since the end of February, while Chinese thermal coal port stockpiles are on increase implying lower levels of Chinese thermal coal fixture activity", the shipbroker noted.
It added that "one more encouraging sign for the capesize segment is the record low of fleet growth as February ended with an estimated net addition of only 2 vessels in the current fleet, from a net addition of 14 vessels in January. Furthermore, Chinese iron ore port stockpiles are on decrease for the first time after 21 consecutive weeks of increase. Currently, iron ore stockpiles are about 99,9million tons, but remain at historically high levels and are up by approximately 33.4 million tons from a year ago (50% up year-on-year)".
Meanwhile, according to Clarkson Hellas, "the other markets have been relatively quiet this week; whilst there is nothing to report in tanker or gas side, in the container market one option of 18,000 TEU Container Vessel has been declared by United Arab Shipping Company (UASC). This will be UASC’s 6th vessel of the same size and the delivery is understood to be in 2015. UASC also have eleven 14,000 TEU Container Vessels on order at the Korean shipbuilder’s yard in Ulsan", the shipbroker concluded.
In its own report, Golden Destiny noted that "in the shipbuilding industry, Chinese shipbuilders keep their consolidation process, but it is not yet completed, while they are still facing difficulties in securing new orders despite the signs of shipping recovery. Li Dong, deputy head of the equipment manufacturing division at China’s Ministry of Industry and Information Technology, said that the consolidation process of Chinese yards is hastening, but “not completed yet” and the next step is to encourage stronger yards to further develop their offshore capabilities. “Although there was a slight recovery in the global shipping market in 2013, the growth of global economy remains sluggish and overcapacity of shipyards remains severe,” Li told reporters. In the meantime, Shanghai Merchant Ship Design & Research Institute (SDARI) has unveiled an upgraded version of its very large ore carrier design, touting specifications of greater fuel efficiency, fewer emissions and lower ballast. The new 405,000dwt VLOC is designed to cut fuel consumption from around 97 tonnes to about 80 for the 400,000dwt version, a statement from SDARI said. The new VLOC will require 140,000 tonnes of ballast water, down 50,000 tonnes from the prior design. Its dead weight tonnage will also rise to 405,000 after optimisation of vessel structure. In addition, its CO2 emission will decrease by around 20% compared with the old version. SDARI added that the new VLOC design had attracted interest from Vale, Spanish and Hong Kong shipowners", the Piraeus-based shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
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