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Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the long term prospects of the market, thus enabling more investments towards new acquisitions. In its latest monthly analysis, shipbroker Golden Destiny noted that second hand bulker purchases during October rose by 40% year-on-year, while in the newbuilding market, activity retreated versus the flurry of ordering during September, but was still higher than the respective month of 2012.
According to the report, "overall, secondhand investments continue to record lower pace of growth compared with newbuildings and demolition activity keeps a downward incline from last year’s levels. Year 2013 is pose to end with the number of new orders surpassing 2,000 for the first time since the end of 2008 and posing a serious high risk on the optimistic expectations for an upturn of the market in the next year “2014”. Bulk carriers and tankers remain in the focus of investors for secondhand purchases with lower purchasing interest for containers. However, October ended with a higher purchasing interest for boxships from last month with focus in the sub-panamax segment", the shipbroker said.
Price-wise, Golden Destiny noted that "secondhand vessel values of bulkers keep increasing from the beginning of the year as charter rates record strong upturn from last year’s weak levels. BDI is now up by 98% year-on-year with the average value of charter rates for capesize vessels, during October, showing a 78% year-on-year increase, 157% year-on-year increase for panamax vessels and 58% year-on-year increase for supramax vessels. According to 5yrs old assessments from the Baltic Exchange, the value of a capesize vessel has shown a 21% increase since the beginning of the year by rising to about $36mil, from about $30mil at the end of October 2012".
It added that "iIn the newbuilding arena, bulkers, tankers, gas tankers and containers still record remarkable upward movements from last year’s ordering activity with the number of newbuilding orders marking new record levels for the first time since the end of 2008. In the bulk carrier segment, shipping players seem to concentrate their interest in the capesize and ultramax segment with Chinese yards winning the largest share of contracts. In the tanker segment, the ordering spree in the MR product segments seems to be endless with South Korean yards holding their leading position in securing of new contracts for such vessel sizes and also for the construction of large LPG or LNG carriers. In the container segment, October marked soft activity in the construction of post panamax boxships of more than 9,000 TEU, but investors have not yet lost their interest for such mega ships".
In total, second vessel purchases across all markets were down 4.7% month-on-month, but 11% up year-on-year, with a total of 144 vessels traded for an invested capital of more than $2 billion, while 23 S&P deals reported at an undisclosed sale price. Similarly, newbuilding orders were down 31% month-on-month and 91% up year-on-year, with 221 vessels contracted for an invested capital of more than $9,1bn, while 82 new orders reported at undisclosed contact price. Demolition activity was down 35% month-on-month and 50% down year-on-year), with 56 vessels sold for disposal of about 2,5mil dwt, 64% year-on-year decline in the number of bulker disposals.
More specifically, in the dry bulk market, newbuilding activity was down 40% month-on-month and 454% up year-on-year, in the number of new orders (72 new orders – 13 new orders October 2012). Chinese yards grasped 61% share of the new orders for bulk carriers in October with strong volume of activity in the handy and ultramax segment (44 new orders won from the total 72 new orders). Overall, capesize newbuilding orders in the frontline as 27 new contracts reported during October from zero contracting business in similar month last year. Handy (30,000-39,000dwt) and ultramax (60,000-67,000dwt) vessel sizes grasp also robust volume of orders, 16 and 13 respectively from 8 new orders placed for handy vessels in October 2012 and zero business for ultramaxes.
Dry bulk secondhand activity was 12% down month-on-month and 40% up year-on-year, in the number of secondhand vessel purchases (60 vessel purchases – 43 vessel purchases October 2012.). Finally, demolition was 38% down month-on-month and 64% down year-on-year in the number of demolitions 20 vessel demolitions – 56 vessel demolitions October 2012). Strong activity in the handy-handymax segment with only one reported vessel disposal in the panamax vessel size and no recorded scrapping activity for capesize units.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
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- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
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