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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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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Aditya Birla Group - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- The University of Queensland
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
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