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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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Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
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