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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, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Planning Commission, India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
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