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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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Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
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- CNBM International Corporation - China
- Latin American Coal - Colombia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
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