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Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P market, as it was in the past few week. After all, prices had started to firm up quite a bit. According to the latest report from Lion Shipbrokers, "buying interest is decreasing as ships' values have firmed beyond the budget of many prospective buyers out there. We recorded less second hand transactions this week (20 sales compared with 30 sales of last week)", said the shipbroker. In a similar weekly report, shipbroker Golden Destiny reached the same conclusion, noting that there were 43 transactions reported worldwide, both in the secondhand and demolition markets, down by 38% on the week, with 42% decrease in secondhand purchases and 29% lower scrapping volumes from the activity reported in the last week.
According to Golden Destiny, "at a similar week in 2013, the total S&P activity in the secondhand/demolition market was standing at 5% lower levels, when 41 transactions had been reported and secondhand ship purchasing was standing 47% higher than the levels of newbuilding orders. The ordering appetite was minor for the main conventional vessel segments. (15 total new orders, 7 bulkers, 2 tankers, and 6 special projects)". In total, Golden Destiny reported 26 vessels changing hands for a total amount of $513,7 million, while two deals were done at an undisclosed price (10 bulkers, 10 tankers, 1 gas tanker, 1 liners and 4 containers). "Bulkers and tankers held the lion share of this week’s S&P activity -38% share each, containers 15% share, only 1 S&P deal reported in the gas tanker segment.. The highest invested capital is reported in the tanker segment for region $185 mil, due to intense S&P activity reported in the crude tanker segment", said the shipbroker.
Among the most notable deals, Lion Shipbrokers reported that in dry bulk carriers, "Hanjin’s panamax BARITO (73K BLT 1996 HUDONG/CHINA SS/DD DUE AUG 2016) has changed hands locally within South Korea, achieving a price of $7.2 mill. Price is similar to the recent deals of three years older units of HANSUNG SUNRISE (73K BLT 1993 HYUNDAI/S. KOREA) and VITAPRIDE (69K BLT 1993 IMABARI/JAPAN), illustrating the premium buyers are willing to pay extra for South Korean and especially Japanese built units. Four supramaxes changed hands this week; clients of Giavridis of Greece have acquired Japanese controlled TRITON STORK (56K BLT 2004 MITSUI/JAPAN CR 4X30T) for the market level of $21.15 mill. In an en bloc deal, clients of Thoresen of Thailand have purchased Cido’s supramax trio TOP HARMONY, TOP FREEDOM & TOP ISLAND (55K BLT 2005/05/06 OSHIMA/JAPAN CR 4X30T) for $68.9 mill ($22.6 mill, $22.6 mill & $23.7 mill respectively). Remind you that last week, similar unit SKY MARINER V (53K BLT 2005 IMABARI/JAPAN CR 4X30T) was committed for $22 mill. Modern handy WEST FORTUNE (28K BLT 2009 SHIMANAMI/JAPAN CR 4X30.T DD DUE APR 2014) commanded a firm $17.5 mill basis special and dry-docking surveys due next month", said the shipbroker.
Meanwhile, in the demolition market, Lion noted that "the Subcontinent market is stable at firm levels, with India monopolizing almost all of the reported tonnage for one more week. China remains stable at levels in the low-mid $300, same as Turkey, paying levels in the region of $300". Similarly, Golden Destiny mentioned that "India holds firm position in the demolition arena with container disposals in the panamax segment surging and yards fulfilling their capacity. The high influx of container tonnage for disposal may cause, in the short term, a downward pressure in scrap rates once the arrivals for beaching begin and yards being full of capacity. Bangladesh and China remain quiet, while in Pakistan, there is still short of activity for tanker disposals by winning this week one capesize bulker".
Demolition activity was down by 29% on the week, despite a large increase in bulker scrapping activity (up by 250% on the week). " In terms of deadweight sent for scrap, there has been 36% weekly increase with strong reported disposals for large vessel sizes, 3 capesize-2 panamax bulkers, 1 VLCC-1 panamax in the tanker segment, 2 panamax in the container. India is reportedly to have won 7 of the 17 demolition transactions, Bangladesh 0, Pakistan 1, China 2, Turkey 1 and 6 reported vessel disposals at undisclosed demo country.
Benchmark scrap prices in the Indian subcontinent region: $420-430/ldt for dry and $450/ldt for wet cargo. Scrap prices in China hover at $310/ldt for dry and $330/ldt for wet cargo.
Notable demolition transactions: Reported in the container segment, M/V “HANJIN IRENE”4,024 teu with 18,888 Ldt, built 1994 fetched $485/ldt in India asis Fujairah with sufficient bunkers for the voyage to India. At a similar week in 2013, demolition activity was up by 12%, in terms of the reported number of transactions, when 19 vessels had been reported for scrap of total deadweight 689,599 tons with 4 disposals for bulkers, 3 tankers, 8 liners, 2 containers, 1 passenger/cruise and 1 Ro-Ro. Ship-breakers in Indian subcontinent region had been offering lower levels of the current year, $385-400/ldt for dry and $420/ldt for wet cargo", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
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