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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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Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
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