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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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Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
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- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
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