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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, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
COALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, bu ...
Friday, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
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- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
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- Ministry of Transport, Egypt
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- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Romanian Commodities Exchange
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- San Jose City I Power Corp, Philippines
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- Global Coal Blending Company Limited - Australia
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- Commonwealth Bank - Australia
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- Samtan Co., Ltd - South Korea
- Planning Commission, India
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- Independent Power Producers Association of India
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- Cement Manufacturers Association - India
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- Thai Mozambique Logistica
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- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
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- London Commodity Brokers - England
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- Sindya Power Generating Company Private Ltd
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- Electricity Authority, New Zealand
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- Thiess Contractors Indonesia
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- Mintek Dendrill Indonesia
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- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
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- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
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- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
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- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
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- Energy Development Corp, Philippines
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
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- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
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- Orica Australia Pty. Ltd.
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
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