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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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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- The University of Queensland
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- ASAPP Information Group - India
- White Energy Company Limited
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
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