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Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have been very active in both the newbuilding and the secondhand markets, during the first month of 2014. According to shipbrokers' reports, ship owners around the world have invested into 246 newbuildings and 201 second hand vessels. Availability of financing (at least for some owners), together with still attractive pricing have been the main reason for the completion of many deals over January. But, it will be interesting to see, how this trend will play out in the coming months, with ship prices on the rise.
According to the latest monthly report from shipbroker Intermodal, "the newbuilding market managed to keep much of its momentum while entering the New Year. Dry bulkers and tankers are still managing to hold interest with 112 and 38 units being ordered respectively. Despite all this there has been a slight slowdown as owners take a more precautious approach and seem to hold back on extra ordering till they see more clear signs as to how the market will be like in 2016 (the year where most of these new orders will be scheduled for delivery)".
Similarly, in the second hand market, it's been "a very strong start to the year for the secondhand market with significantly more activity then we had seen in any of the previous 12 months in terms of units changing hand, while also signifying a greater interest for larger size units in most sectors", Intermodal said.
In terms of demolition market activity, the trend has remained downward. During the month of January, there were just 86 ships reportedly sold for scrap. Intermodal mentioned that "demolition activity continues to drop further in terms of activity with volume in January being considerably lower than any month we had seen in 2013. This has once again been despite the good price levels been given by scrap buyers, pointing towards a lower willingness from ship owners to scrap ever younger vessel", the shipbroker concluded.
Meanwhile, in the second hand vessel market this past week, Piraeus-based shipbroker Golden Destiny noted that there were "47 transactions reported worldwide in the secondhand and demolition market, down by 11% week-on-week with 13% decrease in secondhand purchases and 7% lower scrapping volumes from the activity reported in the last week. At similar week in 2013, the total S&P activity in the secondhand/demolition market was standing at 6% higher levels, with 50 transactions reported and secondhand ship purchasing was standing 27% lower than the levels of newbuilding orders".
According to the shipbroker, "container ships held the lion share of this week’s S&P activity -29% share and 23% share respectively, bulkers and tankers -21% share each, while only one S&P deal reported for liners. The highest invested capital is reported in the tanker segment with large activity reported in large vessel size categories (panamax segment of 4,000-5,000TEU for vessels built China/South Korea)", Golden Destiny said.
In a separate report on the second hand ship market this week, Lion Shipbrokers said that with Lunar New Year holidays now over and Far East slowly getting back to business, things could start picking up this week, both in terms of transactions concluded, but also in the dry bulk freight market. According to Lion, numerous inspections are currently taking place, indicating that more deals are on the way.
In the dry bulk market, "Modern caper CAPE SEAGULL (175K BLT 2012 JIANGSU/CHINA) was committed to undisclosed interests for $47 mill (price in line with market). Sinokor’s vintage panamax HANSUNG SUNRISE (73K BLT 1993 HYUNDAI/S. KOREA LDT 10,353 MT) has been snapped by Greek buyers for $7.5 mill, having a Subcontinent scrap value today of about $4.2 mill. In an off market deal, Greek buyers have purchased modern supramax ASIA (57K BLT 2010 COSCO ZHOUSAN/CHINA CR 4X30T) for $22.4 mill. Lomar’s supramax OCEAN PRESIDENT (51K BLT 2001 OSHIMA/JAPAN CR 4X30T) attracted $14.7 mill basis drydocking due, to clients of Omicron of Greece, while two weeks ago, smaller sister NIKKEI PHOENIX (46K BLT 2002 OSHIMA/JAPAN CR 4X30T) went for $16 mill (also to Greeks). Clients of Ikarus of Greece agreed to pay a firm $12.7 mill for late 90’s handymax SLAVNIK (46.5K BLT 1998 OSHIMA/JAPAN CR 4X25T), same price with early January’s sale of slightly bigger unit EILHARD SCHULTE (49K BLT 1999 IHI/JAPAN CR 4X25T) for $12.75 mill", Lion Shipbrokers concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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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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- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
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