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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, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
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- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
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