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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, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- SMC Global Power, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
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