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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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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Australian Coal Association
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- MS Steel International - UAE
- PTC India Limited - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Africa Commodities Group - South Africa
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