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Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as a glut of newbuilding deliveries has plagued almost every shipping sector, from dry bulk carriers to tankers and also containers. Still, during the second half of 2011, ship owners took a step back, as there was not only a decline in the number of new orders being placed but also in the firm enquiries and discussion being held with the yards.
According to the latest weekly report from Clarksons Hellas, "we have seen some reports of new business being concluded but for the most the market remains relatively quiet, with the yards having little time to gear up their marketing drives between the return of the West from its recently concluded holiday period and the upcoming Lunar New Year holidays in the Far East towards the end of this month.
Much of the news this week has centred about the announcements by the major Korean Yards of their targets for 2012. Most of the yards have set fairly firm yearly targets, with HHI (USD 23.8 Bln up 19% from 2011), Samsung (USD 12.6 Bln up 8.7% on 2011) and STX (USD 15.0 Bln up 17% on 2011) in particular leading the pack. With many of the more conventional sectors continuing to look relatively challenging for owners over the upcoming months, it remains likely, the yards will be looking to target the higher value sectors such as Offshore and the like. This seems to follow a similar pattern to the strategies of last year and it will be interesting to see given the successful ordering in 2011 in these sectors
whether there is a similar level of demand to sustain these latest targets.
Whilst China was successful in winning a certain volume of business last year, due to the sheer size of structural capacity within China today there remain many yards that still have potential early berths within 2013. With demand likely to remain remaining limited in the short term and against this backdrop of excess supply, there may well have to be a continued adjustment in pricing in order for the yards to be able to push on and drive further ordering" said Clarksons Hellas.
In a separate report, Piraeus-based shipbroker Golden Destiny said that "some fresh activity has been revealed in the bulk carrier segment with newbuilding business still running on the low edge with shipyards finding difficulties to attract new business for 2012.
Overall, the week closed with 16 orders reported worldwide at a total deadweight of 979,298 tons, posting a 115.4 % increase since our last report of 23rd of December 2011. This week’s total newbuilding business is at lower levels of the week’s closing in 2011, when 42 orders had been reported with bulk carriers, tankers and special projects grasping 66%, 12% and 14% share respectively of the total ordering activity. In terms of invested capital, the total amount of money invested is estimated at region $1,5 bil with 81.25% of the total number of orders being reported at an undisclosed contract price. Notable ordering business has been in the bulkcarrier sector for a new design 209,000dwt vessel that will be 20% more fuel efficient than the existing designs and will feature advanced technology in order to reduce greenhouse gas emissions.
In the bulk carrier segment, Turkish player Densa Denizcilik has booked six handysize units of 36,383 dwt in Hyundai Vinashin of Vietnam at an undisclosed contract price with delivery in 2013. Chinese players also placed some new business for larger vessel sizes in domestic yards. In the kamsarmax segment, Hong Kong owner ordered two 82,000 dwt units in Taizhou Catic, while Da Tang Shipping ordered two 76,000 dwt units in Jiangnan Changxing for delivery in 2012. In the supramax segment, Marubeni Corp. of Japan placed two 58,000 dwt units in Dalian Cosco of China with delivery in 2013. Lastly Mitsui OSK Lines of Japan placed an order to compatriot Universal Shipbuilding for a new design of Capesize bulker, with the characteristics mentioned above.
In the tanker segment, Nippon Oil Tanker Corp. of Japan exercised an option for a second aframax shuttle tanker at $72,2 mil for delivery in December 2012 to transship crude oil from VLCC’s into Japanese ports, where vessel draft is too deep for vessel access. Furthermore, in the panamax /MR segment, Scorpio Tankers appears to havbe added one more 52,000 dwt unit in an order placed for five similar units earlier on May, at a price region $36,4 mil for delivery in January 2013. The sixth order includes an option for up to three more 52,000dwt newbuilding units. The first option, for a sister vessel priced at $36,4mil, must be exercised by mid-January. If that option is exercised, Scorpio will obtain a second option to order the remaining two newbuildings at $37,2 mil per unit.
In the offshore segment, Daewoo and Keppel Offshore and Marine of Singapore announced both of an order each for a semisubmersible drilling rig for a European and a Brazilian owner respectively" concluded Golden Destiny.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
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- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
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