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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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- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
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