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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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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
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