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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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Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- Sical Logistics Limited - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Economic Council, Georgia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
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