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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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Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Planning Commission, India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- The University of Queensland
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
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