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Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, as ship owners are scaling back their investments in the newbuilding market. As a result, during the past week, shipbrokers reported only limited new orders being placed in various shipyards around the world. It seems that the current oversupply issues which have plagued both the dry bulk and the tanker markets, as well as part of the container business as well, as a result of the pace of newbuilding deliveries, is one of the reasons why owners are looking to help the market "breathe", by limiting further ordering activity.
In addition to the above, the current state of the global economy and the latest world trade trends, aren't favorable for a faster absorption of these new vessels, which are currently been delivered at a record pace. Last week, the World Trade Organization downgraded its view on the projected growth of world trade for the 2012-2013 period, something already evident in many dry bulk trades, especially since China has entered a period of rebalancing and controlled growth. At the same time, another important issue for some ship owners at least, is that of financing. Finding the proper financing scheme from banks still active in the shipping sector can be a tricky thing these days. Most owners are reporting that the costs of financing have risen exponentially, especially since some banks have found themselves being ship owners, through reposessing those assets from bankrupt shipping companies. As a result, only cash-rich investors are able to take advantage of the favorable conditions now prevalent in pricing of vessels.
Still, some owners are finding it difficult to turn down ordering opportunities, since shipyards, which are eager to fill up their slots for the years 2014-2015 are offering quite attractive deals, at prices close to halved, when compared to similar orders taken during 2007-2008. But, most owners are avoiding orders for traditional-type of vessels, like VLCCs or Capesize dry bulk carriers. Instead they are looking to capitalize in the growth prospects of niche markets rising in the shipping industry, from LNG carriers, to offshore rigs and car carriers, ship owners are increasingly hunting for new business opportunities, which could yield significant financial benefits in the future.
As a result of this, Clarkson Hellas said in its latest newbuilding report, that the few number of orders reported this week, "have followed in a similar vein to recent times, with the orders either placed in the more niche sectors such as the car carrier markets, or for newer more economical conventional tonnage. Whilst global market conditions continue to remain somewhat challenging, enquiry is now beginning to pick up in various sectors, as owners increasingly look to take advantage of not only the capacity on offer at the shipyards, but also the design development work that has been carried out by them. The container market in particular is beginning to see some signs of movement, with various discussions being mooted amongst the yards and owners. This sector, like the dry and tanker sectors before it, has seen plenty of recent design improvement work carried out by the yards. With many of the yards hungry for business, this sector in particular, with its typically more complex design requirements looks an attractive option for the yards as they attempt to best utilise their available capacity" said Clarkson Hellas.
It added in its report that "in regards to the reported business; In Dry, Sasebo Heavy Industries are reported to have won two separate orders for a total of 3 x Panamax Bulk carriers. Clients of DST shipping are understood to have ordered 1 x 75,000dwt unit with delivery in 2013, whilst clients of Fundador Naviera are reported to have taken a further two units, believed to be 77,000dwt, with delivery in 2014 onwards. Pricing for these latter units, is expected to be in the region of USD 30 Mill. Jiangsu Eastern have also been reported to have won an order from clients of Oldendorff for 1 option 1 x 94,000dwt Bulk Carriers. The unit is understood to be a self‐unloading bulk carrier and delivery is scheduled within 2014. Finally in Car Carriers, DSME Mangalia are reported to have taken an order for 2+2+2 x 6,500 CEU PCTCs from clients of Ocean yield AS. Delivery for these units has provisionally been scheduled from 1H 2014 onwards. Pricing has not been disclosed" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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 ...
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- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
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