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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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- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
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