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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 $12.75 mill", Lion Shipbrokers concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Minerals Council of Australia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
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