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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, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Australian Coal Association
- The Treasury - Australian Government
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
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