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Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding ordering activity. According to data compiled by shipbroker Golden Destiny, ship owners invested in 133 new building orders, a number which was 280% higher than the same month of last year, when a mere 33 newbuilding dry bulk carriers were contracted.
According to the report, a weak sentiment in the dry bulk market has poured from the Chinese Lunar New Year, but it doesn't seem to faze ship owners, in terms of their belief in the future positive prospects of the market. After all, despite the fall of the Baltic Dry Index (BDI), it still averaged 1,472 points during January, well above the equivalent month of 2013 (771 points), albeit 32.4% lower than December of 2013 (2,178 points). In any case, "shipping players retain their high confidence and continue their pace of investments at overwhelming levels for secondhand and newbuilding vessels. Ultramax vessel newbuilding design appears to be the new trend in bulk carriers’ newbuilding business, leaving supramax and kamsarmax vessel designs out of competition", said the shipbroker.
In total, "Chinese yards grasped 64% share of the new orders for bulk carriers in January with strong volume of activity in the ultramax and capesize segment (84 new orders won from the total 133 new orders). Japanese yards won also firm business with 28 new orders sealed, from only 5 new orders in January 2013, from high levels of business in the ultramax segment. Overall, ultramax vessels (60,000-67,000dwt) grasped the lion share of bulk carriers’ ordering activity (32%) share with 42 new orders, from only 5 new orders reported in January 2013. Capesize newbuilding orders are also in the frontline as 28 new contracts reported during January from only 4 new contracts in similar month last year. Overall, Handymax vessels (40,000-49,999) grasped 14% share with 18 new orders, from zero contracting activity reported last year due to new designs of 43,000dwt emerged in this category. Supramax vessels (50,000-59,999dwt) held 8.3% share with 11 new orders from 2 in January 2013 and kamsarmax (79,000-87,000dwt) 20% share with 26 new orders from 5 in last year", Golden Destiny said.
Meanwhile, sentiment is even stronger in the second hand vessel market for dry bulk carriers. According to the shipbroker's report, activity was 39% higher on the month and 114% higher on the year. In total there were 75 vessel purchases reported for an invested capital of more than $1.2 billion, versus just 35 bulkers which were acquired during January of last year. Golden Destiny reported strong purchasing activity for vessels built Japan and China with focus from handy to supramax vessel categories. There was also reported buying interest in the ultramax, kamsarmax and capesize segments mainly for newbuilding resales and modern vessels up to 5yrs old.
According to the report, "overall (including all other major segments), S&P activity in the secondhand market for January 2014 ended on a much higher level than January 2013 and January 2012. For January 2014, the average number of weekly reported S&P transactions for secondhand vessels reached 40, up by 82% year-on-year, compared with 22 vessels in January 2013 and 20 vessels in January 2012. In the newbuilding market, ordering activity emerges the same solid with the record levels of December 2013, despite its soft decrease. During January 2014, the average number of weekly reported new orders was 78 vessels, from 84 vessels in December 2013 and 72 vessels in November 2013. Compared with January 2013 levels, the newbuilding business in up by 105% year-on-year, when in January 2013, the average number of weekly reported new orders was 38 vessels and only 14 vessels in January 2012.
Finally, in terms of demolition activity, as was expected, numbers are down, as a result of higher rates. Scrapped dry bulk vessels were down 30% on the month and 63% down on the year, with just 14 vessels being sold for scrap over January, versus 38 during the same month of 2013. Additionally, activity was limited in the handy-handymax vessel sizes, while Capesize and Panamax vintage tonnage was left out of the demolition equation.
Overall, "in the demolition market, scrapping business showed declining levels as shipping players reduced significantly their appetite for disposal during the last quarter of last year, mainly due the upturn of the freight market in the dry/tanker segment. However, benchmark scrap prices rose to very firm levels of excess $400/ldt from improving currency issues and local steel prices in the Indian subcontinent region. In the container segment, there is a firm interest for disposal with India offering very encouraging levels of more than $450/ldt for panamax vessels of 3,000-5,000 TEU, and players appear more than willing to proceed with their scrapping decisions as an early recovery of the segment seems to be not feasible in the short term. During January 2014, the average number of weekly reported demolitions was 10 vessels, down by 52% year-on-year from 21 vessels reported on average for disposal
during January 2013", the Piraeus-based shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
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- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Planning Commission, India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
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