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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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Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
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- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Parliament of New Zealand
- GMR Energy Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
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