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Wednesday, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activity, in an attempt to take advantage of the -- still -- low prices, compared to the 2007-2008 highs. As a result, 2014 has so far proved to be the best year in terms of contracting activity, since 2008. Over the course of the past week, shipbrokers reported newbuilding orders for a total of 63 vessels with a deadweight of 4,517,648 tons, while 29 transactions were reported at an undisclosed price.
According to figures compiled by shipbroker Golden Destiny, "the invested capital revealed is about $1,56 bn for 29 new orders. (34 bulkers, 8 tankers, 4 gas tankers, 10 containers, 2 car carriers and 3 special projects). Activity is up "7% on the week and by 29% on the year. The largest volume of newbuilding activity is reported in the bulker segment, while only 3 contracts are reported in the offshore segment. Bulkers held 54% share of this week’s ordering activity; tankers 13% share, gas tankers 6% share, liners 3% share, containers 16% share and special projects 5% share. At similar week in 2013, 49 fresh orders had been reported with weak activity in main conventional vessel segments. (49 total new orders -9 bulkers, 3 tankers, 8 gas tankers, 5 liners, 9 containers and 15 special projects). Compared with previous week’s levels, a large increase of 300% is recorded in the gas tanker segment (4 new orders from 1 last week), 48% in the volume of new orders for bulkers (34 new orders from 23 in the last week), 43% in the volume of new orders for containers (10 new orders from 7 last week) and 14% in the tanker (8 new orders from 7 last week). A weekly decrease of 86% is recorded in the offshore segment segment (3 new orders from 21 in the last week)", Golden Destiny said.
Meanwhile, in a separate report, Clarkson Hellas noted that "in dry bulk this week, COSCO Bulk Carriers have announced an order for four firm 180,000 DWT Capesize at Tianjin Xingang, with all vessels due to deliver in 2016. At the same yard, COSCO have also contracted four firm 40,000 DWT Handymax, with delivery split between 2015 and 2016. Blue Wall shipping have declared options for two further 43,500 DWT Handymax at Qingshan Shipyard, with delivery in the first half of 2017. Ultrabulk are also understood to have ordered two firm plus one option 38,000 DWT Handysize at a yet unknown Japanese Shipyard, with the firm vessels lined up for delivery from 2015".
The shipbroker added that "in tankers, clients of Tsakos Energy Navigation (TEN) have declared options for four further 112,700 DWT crude carriers at DSME. Delivery for these latest vessels is due in 2017, with the series now at a total of nine vessels. A relatively active week in the small container market, starting with Nord Reederei declaring options for three 2,500 TEU container carriers at Huangpu Wenchong and four 1,730 TEU carrier at Zhejiang Ouhua. These most recent contracts take the series for each size to six and twelve vessels respectively, with delivery in 2015 and 2016. Sainty Marine have announced an order for six firm plus four option 12,000 DWT MPPs for Zeaborn, with delivery of the firm vessels in 2016 and 2017, with options in 2018 if declared. Finally, Ray Shipping are understood to have declared two options for 7,500 CEU PCCs at Hyundai Mipo, delivering in 2015 and 2016", Clarkson Hellas concluded.
On the demolition market, Golden Destiny said that "scrapping appetite is on an upward movement, with more than 15 vessels reported on average for disposal per week, since the beginning of February. Despite the flood of tonnage scrap prices in the Indian subcontinent region keep firm by standing $25-$30/ldt more than the end of November last year for dry cargo and $40/ldt more for wet cargo. India remains in the frontline and in close competition with Bangladesh, while Pakistan tries to offer alluring levels for attracting wet tonnage. In China, benchmark scrap prices keep low by enlarging their gab with the Indian subcontinent region to $20-$30/ldt for dry and wet tonnage respectively. Strong demand for container disposals has led scrap prices at excessive levels with a remarkable deal reported this week for a handy boxship at levels of around $500/ldt in India", the shipbroker noted.
It added that " In terms of deadweight sent for scrap, there has been 44% weekly decrease with weak reported activity for disposals in large vessel sizes. (1 panamax bulker and 2 aframax tankers). India is reportedly to have won 4 of the 12 demolition transactions, Bangladesh 3, Pakistan 0, China and 4 reported vessel disposals at undisclosed demo country.
Benchmark scrap prices in the Indian subcontinent region: $425-430/ldt for dry and $455-$460/ldt for wet cargo. Scrap prices in China hover at $310/ldt for dry and $330/ldt for wet cargo. At a similar week in 2013, demolition activity was up by 12%, in terms of the reported number of transactions, when 19 vessels had been reported for scrap of total deadweight 1,022,988 tons with 12 disposals for bulkers, 1 tanker, 1 gas tanker, 1 liner, 3 containers and 1 Ro-Ro. Ship-breakers in Indian subcontinent region had been offering lower levels of the current year, $405-415/ldt for dry and $430-$445/ldt for wet cargo", Golden Destiny 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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- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Australian Coal Association
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
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