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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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Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Australian Coal Association
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- White Energy Company Limited
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- The University of Queensland
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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