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Wednesday, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activity, in an attempt to take advantage of the -- still -- low prices, compared to the 2007-2008 highs. As a result, 2014 has so far proved to be the best year in terms of contracting activity, since 2008. Over the course of the past week, shipbrokers reported newbuilding orders for a total of 63 vessels with a deadweight of 4,517,648 tons, while 29 transactions were reported at an undisclosed price.
According to figures compiled by shipbroker Golden Destiny, "the invested capital revealed is about $1,56 bn for 29 new orders. (34 bulkers, 8 tankers, 4 gas tankers, 10 containers, 2 car carriers and 3 special projects). Activity is up "7% on the week and by 29% on the year. The largest volume of newbuilding activity is reported in the bulker segment, while only 3 contracts are reported in the offshore segment. Bulkers held 54% share of this week’s ordering activity; tankers 13% share, gas tankers 6% share, liners 3% share, containers 16% share and special projects 5% share. At similar week in 2013, 49 fresh orders had been reported with weak activity in main conventional vessel segments. (49 total new orders -9 bulkers, 3 tankers, 8 gas tankers, 5 liners, 9 containers and 15 special projects). Compared with previous week’s levels, a large increase of 300% is recorded in the gas tanker segment (4 new orders from 1 last week), 48% in the volume of new orders for bulkers (34 new orders from 23 in the last week), 43% in the volume of new orders for containers (10 new orders from 7 last week) and 14% in the tanker (8 new orders from 7 last week). A weekly decrease of 86% is recorded in the offshore segment segment (3 new orders from 21 in the last week)", Golden Destiny said.
Meanwhile, in a separate report, Clarkson Hellas noted that "in dry bulk this week, COSCO Bulk Carriers have announced an order for four firm 180,000 DWT Capesize at Tianjin Xingang, with all vessels due to deliver in 2016. At the same yard, COSCO have also contracted four firm 40,000 DWT Handymax, with delivery split between 2015 and 2016. Blue Wall shipping have declared options for two further 43,500 DWT Handymax at Qingshan Shipyard, with delivery in the first half of 2017. Ultrabulk are also understood to have ordered two firm plus one option 38,000 DWT Handysize at a yet unknown Japanese Shipyard, with the firm vessels lined up for delivery from 2015".
The shipbroker added that "in tankers, clients of Tsakos Energy Navigation (TEN) have declared options for four further 112,700 DWT crude carriers at DSME. Delivery for these latest vessels is due in 2017, with the series now at a total of nine vessels. A relatively active week in the small container market, starting with Nord Reederei declaring options for three 2,500 TEU container carriers at Huangpu Wenchong and four 1,730 TEU carrier at Zhejiang Ouhua. These most recent contracts take the series for each size to six and twelve vessels respectively, with delivery in 2015 and 2016. Sainty Marine have announced an order for six firm plus four option 12,000 DWT MPPs for Zeaborn, with delivery of the firm vessels in 2016 and 2017, with options in 2018 if declared. Finally, Ray Shipping are understood to have declared two options for 7,500 CEU PCCs at Hyundai Mipo, delivering in 2015 and 2016", Clarkson Hellas concluded.
On the demolition market, Golden Destiny said that "scrapping appetite is on an upward movement, with more than 15 vessels reported on average for disposal per week, since the beginning of February. Despite the flood of tonnage scrap prices in the Indian subcontinent region keep firm by standing $25-$30/ldt more than the end of November last year for dry cargo and $40/ldt more for wet cargo. India remains in the frontline and in close competition with Bangladesh, while Pakistan tries to offer alluring levels for attracting wet tonnage. In China, benchmark scrap prices keep low by enlarging their gab with the Indian subcontinent region to $20-$30/ldt for dry and wet tonnage respectively. Strong demand for container disposals has led scrap prices at excessive levels with a remarkable deal reported this week for a handy boxship at levels of around $500/ldt in India", the shipbroker noted.
It added that " In terms of deadweight sent for scrap, there has been 44% weekly decrease with weak reported activity for disposals in large vessel sizes. (1 panamax bulker and 2 aframax tankers). India is reportedly to have won 4 of the 12 demolition transactions, Bangladesh 3, Pakistan 0, China and 4 reported vessel disposals at undisclosed demo country.
Benchmark scrap prices in the Indian subcontinent region: $425-430/ldt for dry and $455-$460/ldt for wet cargo. Scrap prices in China hover at $310/ldt for dry and $330/ldt for wet cargo. At a similar week in 2013, demolition activity was up by 12%, in terms of the reported number of transactions, when 19 vessels had been reported for scrap of total deadweight 1,022,988 tons with 12 disposals for bulkers, 1 tanker, 1 gas tanker, 1 liner, 3 containers and 1 Ro-Ro. Ship-breakers in Indian subcontinent region had been offering lower levels of the current year, $405-415/ldt for dry and $430-$445/ldt for wet cargo", Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
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