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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, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- White Energy Company Limited
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
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