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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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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
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- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
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