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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-$445/ldt for wet cargo", Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
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- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
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