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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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Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Australian Coal Association
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
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