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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-$445/ldt for wet cargo", Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
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- Metalloyd Limited - United Kingdom
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- The Treasury - Australian Government
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- LBH Netherlands Bv - Netherlands
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- Australian Commodity Traders Exchange
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- White Energy Company Limited
- Price Waterhouse Coopers - Russia
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- Chamber of Mines of South Africa
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