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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, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
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- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
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