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Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded substantially as a result, a new weekly report from Clarkson Hellas suggests that shipyards in the Far East have resisted any significant drop in newbuilding prices for the past six months. "However, it remains to be seen whether increased levels of enquiry can outweigh sluggish charter rates and an oversupplied market to begin to push newbuilding pricing upwards. Away from the shipping market, shipyards have also had to account for a steady increase in the price of steel since September last year, which has inevitably placed further pressure on the yards to achieve an increased margin for new contracts", the report said.
According to Clarkson Hellas, "looking at the Dry Bulk market, a number of previously rumoured orders have now come to light, including Fredriksen interests boosting their already significant Capesize orderbook. Understood to have been signed last month, SWS received an order for a further 4 x 180k Capesize vessels from Clients of Frontline with pricing understood to be in the region of USD 47 Mill with delivery of all four vessels in 2015. This brings the total Frontline Capesize orders to 8 firm vessels plus two sets of options for a further 4+2 vessels. Another order thought to have been concluded last month also emerged this week with Clients of Oceanbulk Maritime contracting 2 + 2 80,000 DWT Kamsarmax at Japan Marine United (JMU). Although pricing is undisclosed, delivery of the firm vessels is planned from Q1 2014.
The total number of reported Capesize orders, excluding options, now comes close to 30 vessels, and considering further orders understood to be currently under discussion, the total Capesize orders placed in this first quarter look likely to exceed the total number placed throughout the whole of 2012", Clarkson Hellas concluded In a separate report, shipbroker Golden Destiny said that "in the newbuilding market, the first days of March ended with firm emerged newbuilding bulk carrier business in Japanese yards in all vessel sizes and strong ordering interest for capesize vessels.
Oshima Shipbuilding reported to have won an order for ultramax and panamax bulk carriers, while Tsuneishi Cebu in Philippines gained orders in the kamasarmax, supramax and handymax size. In addition, new established Japanese shipyard, Japan Marine United, is said to have sealed capesize orders from Greek players" it said. Golden Destiny added that "overall, the week closed with 40 fresh orders reported worldwide at a total deadweight of 2,649,536 tons, posting 167% week-on-week increase from previous week with significant higher volume of contracts in the bulk carrier segment, up by 1600% week-on-week with a total of 23 new contracts.
In the offshore segment, the newbuilding business was very quite loosing their first ranking position from bulk carriers. This week’s total newbuilding business is almost at similar levels from similar week’s closing in 2012, when 43 fresh orders had been reported, 17 for bulkers, 2 for tankers, 7 for gas tankers, 6 for containers, 3 passenger/cruise and 8 special projects. In terms of invested capital, the total amount of money invested is estimated in the region of about more than $1,13bn, 13 newbuilding contracts reported at an undisclosed contract price. A hefty amount of money was invested in the bulk carrier segment, due to high volume of contracts in the capesize segment, by holding of more than 36% of the total amount of money invested in new contracts" it said.
"In the capesize segment, OceanBulk Maritime is said to have placed an order for two 180,000dwt vessels and Carras Hellas also another two similar vessels at Japan Marine United. The newbuilding cost has not revealed but it is estimated in the region of $46mil. In addition, Norwegian Frontline 2012 is said to have inked a letter of intent with Jiangsu New Yangzijiang for the construction of up to six 180,000dwt vessels, 4 with option 2 units, but price and delivery dates have not been disclosed. Furthermore, Japanese shipbuilder Mitsubish HI won an order from China Steel Express of Taiwan for two 200,000dwt capesize bulkers to be built at its Nagasaki yard. The delivery of these vessels is scheduled for second half 2014 and first half 2015, while the newbuilding cost is estimated in the region of $52,5per vessel. In the kamsarmax segment, Oceanbulk of Greece also confirmed ordering two kamsarmax vessels at Japan Marine United for delivery in 2014.
In the tanker segment, Croatia’s shipyard 3 Maj has signed a letter of intent with the Swedish shipping company Wisby Tankers to build six tankers for the transport of crude and oil products, according to the local business news portal SEEBiz. In the aframax segment, Scorpio Tankers sealed a contract for the construction of two 114,000dwt eco product tankers at Hyundai Samho HI of South Korea for delivery in the third quarter of 2014 at a newbuilding cost of $49,75mil each.
The contract includes fixed price option for the construction of two additional LR2 vessels. In the gas tanker segment, China Shanghai Waigaoqiao Shipyard won an order for the construction of two LPG carriers from Norwegian owner, IM Skaugen, for delivery June and December 2015 at a newbuilding cost of about $46mil each. The contract includes an option of two more vessels and they will be the first LPG carriers to be built by SWS yard. The vessels will have gas capacity of 17,000cum and will be powered by LNG and carry ethylene. In addition, Brave Maritime is said to have signed a contract for the construction of two 7,200cbm pressurized LPG vessels at Japan’s Kyokuyo Shipyard for delivery in the first half of 2014 at a newbuilding cost of $22mil each.
In the Ro-Ro segment, Croatian shipowner Jadrolinija has awarded the construction of its four 616 passenger, 145-vehicle ro-ros to local shipbuilder Uljanik Shipyard with delivery in 2014 at a newbuilding cost of $42mil each" Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
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- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Planning Commission, India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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