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Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expressed in new building ordering activity. The fall of new building prices across the board has been enough to entice many ship owners back in the yards, although, the pace of newbuilding orders is nothing like the previous years. According to the latest monthly report from Golden Destiny's analyst Maria Bertzeletou, investors have continued to exhibit high interest for dry bulk carriers and offshore vessels. A total of 96 orders were placed in a usually "slow" month, on account of summer holidays. These orders represent vessels with a total carrying capacity of about 3.5 million tons and a total invested capital of of more than $5,9 billion, 3% down from July’s newbuilding business and 22% up from previous yearly levels due to a 52% and 150% increase in the ordering activity of bulk carriers and special projects respectively.
In the report, Bertzeletou said that "overall, July and August were months of lower newbuilding business, averaging less than 100 new orders reported worldwide compared with June that ended with 140 new orders reported from a 555% rise in the placement of new contracts for special projects, while April was the “month” of the year with a record of 207 new orders reported from a 152% boost in bulk carriers contracts, 83 new contracts were reported in the bulk carrier segment in contrast with 35 and 23 fresh transactions in August and July respectively.
Bulk carriers still hold a substantial share of the total newbuilding business with 277 orders reported in January-August period from a total of 937 new orders worldwide for all vessel types, 289 reported contracts in the offshore segment, 155 for tankers, 53 for boxships and 78 for gas tankers. However, the fall of newbuilding demand from 2011 and 2010 levels is noticeable, when 1187 new orders were reported worldwide in January-August 2011 with 437 fresh transactions in the bulk carrier, 128 in the tanker, 69 in the gas tanker and 292 in the container segment. In 2010, 1221 new orders had been reported in January-August period, with an impressive number of transactions for bulk carriers, 700 new orders, with only 57 new contracts for boxships, 38 for gas tankers, 85 offshore and a substantial higher amount of newbuilding business in the tanker segment than 2012 and 2011 levels totaling 241 new tanker orders reported".
Another trend observed, which is bound to keep growing the the fact that "Supramax and ultramax vessel eco friendly designs in the bulk carrier segment are in the spotlight of Greek and foreign investors with Chinese yards grasping 66% and 78% share of August and July bulk carriers’ newbuilding activity. In August, Japan also showed some strong volume of newbuilding contracts sealed in the handysize bulk carrier segment of 30,000-39,000dwt, when in July zero volume of business by Japanese yards was reported, with 4 units of 34,000dwt won by Wisdom Marine of Taiwan and 6 units of 35,000dwt by Fednav of Canada" said the report.
It concluded by mentioning that "Hellenic owners keep their conservative strategy in the placement of newbuilding contracts with bulk carriers being their primary focus. Chinese yards won 4 ultramax newbuilding contracts of 64,000 dwt bulkers by Laskaridis Shipping, while Japanese yard IHI Marine United won 2 supramax newbuilding contracts for two 56,000dwt bulker due to the long established relationship of the owner, DST Shipping, with the yard. In August 2011, Chinese yard had won three very large ore capes of 206,000dwt by Polembros Shipping. Overall, Hellenic owners have placed 86 new orders in January-August 2012, 35 new transactions in the bulk carrier segment, 18 for boxships, 17 for gas tankers, 2 pure car carriers and 14 tankers. In a similar period of 2011, Hellenic owners placed 132 new orders in January-August period, 47 new orders in the bulk carrier, a record business in the container segment with 44 new orders, 20 new orders in the gas tanker and 16 new orders in the tanker segment. Year “2010” was an exceptional year for Greek newbuilding business with 215 new orders reported in January-August period, 145 new orders in the bulk carrier, 59 in the tanker, only 4 in the container and 9 in the gas tanker segment".
Meanwhile, in a separate weekly report, Clarkson Hellas said earlier that "the tough financing and market conditions, combined with a more than challenging macroeconomic environment have begun to take their toll in the newbuilding market, with both ship owners and shipyards' earnings performance being dubbed as below par. It added that "the newbuilding market continues to operate within the confines of a tough Macroeconomic environment. This has been highlighted this week by various Owners, with interests across the tanker, container and car carrier sectors, reporting first half losses Y-o-Y. This, in tandem with the similarly subdued earnings being posted by the yards for the same period, continues to highlight the challenging trading environment within which the market is operating" said Clarkson Hellas.
It added that "the Korean MKE (Ministry of Knowledge Economy) has stated that for the first time in the past 19 years, they expect the export value of ships and structures for Korea will decline in 2012, which seems unsurprising given the challenges of the debt market at present, which of course makes investment in the newbuilding market somewhat tough to say the least.
That said, there have still been reports of new business being concluded this week, with the yards proving that economical designs are key to winning new business and it will be those Owners who have cash available for pre delivery instalments, going to be the ones benefiting in the charter market once these ships hit the water" it said.
Source:Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
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