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Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity to close some deals, on the back of attractive pricing. According to the latest monthly report from shipbroker Golden Destiny, August 2013 ended with an upward momentum in second-hand and new building investors’ appetite, while demolition activity followed a downward incline from previous year with lower vessel removals for bulkers and tankers and almost stable volume of disposals in the container segment.
According to the shipbroker's figures, in the second hand vessel market, there were 123 vessels traded for an invested capital of more than $1.9 billion, while an additional 33 deals were reported at an undisclosed sale price. By comparison, the similar figure of last year's August was 91 vessels. Similarly, in the new building ordering business, there were 179 vessels reportedly on order this year for a total of over $9.2 billion, while 51 agreements were done at an undisclosed sum. During the August of 2012 there were 96 new orders. Finally, in terms of demolition activity a total of 48 vessels were sold for scrap, amounting to about 2.4 million dwt. The number is about half of last year, when a total of 102 vessels were scrapped.
The shipbroker noted that "the new building activity is 41% up from the number of vessels changed hands during August as the appealing bottom low new building prices and the new eco designs trigger investors’ desire for new built vessels. The threat of oversupply seems to be ignored by shipping players that hold optimistic expectations for a full upturn of the market after the end of 2014", Golden Destiny said.
It also mentioned that "the declining trend in scrapping activity combined with the accelerated new building business during 2013 create additional negative pressure in the current vessel supply-demand imbalance and narrows hopes for a full early recovery. Demolition activity stood at 73% lower levels than the strong placement of new building orders during August, with bulk carriers, tankers and containers experiencing higher volume of new building activity than last year’s levels", the report noted.
It added that "compared with August 2012 levels, S&P and New building activity recorded 35% and 86% yearly increases respectively, for all vessel types, while demolition activity showed 53% year-on-year decrease. Bulk carriers and tankers remain in the main focus for investors either for buying second-hand vessels or ordering new built vessels. In the bulk carrier segment, the S&P activity for second-hand vessels is lower than investors’ appetite for ordering due to strong placement of new orders for handy, ultramax and capesize vessel sizes. In the tanker segment, strong second-hand purchasing activity for small vessel sizes of less than 10,000dwt and MR products sustained a firm pace of investments and led the number of vessel purchases for second-hand tankers to surpass the number of new orders – 56 vessel purchases / 49 new orders. Despite oversupply issues, demand for the placement of new orders for large vessel sizes either in the bulk carrier or tanker segment represent excessive volume for August 2012 levels.
In the bulk carrier segment, 9 new orders reported in the capesize sector from only 1 new order in August 2012. In the tanker segment, 9 new orders reported in the VLCC segment from 2 in August 2012 and 10 for aframax vessels from zero reported business at similar month last year. In the container segment, the second-hand buying activity seems to follow the low pace of last year, while the repeated preference for the construction of post panamax containers led to new highs in the placement of new orders for containers (8 new orders reported for box ships of more than 10,000TEU from zero reported new building business at similar month last year)", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
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- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
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