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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
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