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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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Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
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