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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Australian Coal Association
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
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