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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
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