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Wednesday, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms of demand over the course of the past few days. In its latest weekly report, shipbroker Shiptrade noted that its enquiry Index witnessed a slight decrease of about 15% this week, which was mainly driven by a sharp drop of enquiries for Panamax bulkers. According to Shiptrade “taking a closer look into the dry bulk sector, the relevant Index for Handysize bulkers was increased by a considerable 20%, while enquiries for Handymax and Supramax bulkers remained at levels close to those of last week.
On the other hand, enquiries for Panamax and Capesize bulkers were sharply decreased by about 50%, with those for Capesize remaining at single-digit levels. On the wet front, with the sole exception of MR tankers, interest in which is always there, all other segments faced losses in terms of buying interest, with the absolute number of enquiries remaining at levels below 10″, said the shipbroker.
In the Sale & Purchase market, Shiptrade reported that “with owners’ expectations for a sharp drop in asset values not materializing so far and current market conditions remaining poor, someone would expect secondhand activity to drop significantly, however, transactions do take place, proving that there are market players that believe in freight rates rebounding, starting from Q3 of this year. The stars of this week were Capesize bulkers and MR tankers, as on the dry front, 5 Capes changed hands, while on the wet front, a total of 4 MRs found their new recipients.
Taking a closer look, Greek interests paid $58 mill. for a cape resale ex Qingdao Beihai scheduled for delivery within 2014, with a 2011 Hyundai-blt cape, namely the “Blue Manaslu” sold to Greeks as well for $51.5 mill. In the wet sector, Chartworld have disposed their 1999 built Panamax tanker, the “Star Bravery”, which went to UAE based buyers for $8.5 mill., along with their 1996 built MR “Nedimar”, which fetched the same levels from Greek interests. Last, but not least, enhanced was this week’s secondhand activity in the container market, with a total of 5 units, all built post 2005, changing hands”, Shiptrade said.
Demolition: Weakening
Meanwhile, according to Shiptrade, in the demolition market, “the sub-continent seems to be suffering due to the monsoon season, still following the downward path created during the last 2-3 weeks, however, despite the weakened demand for tonnage, what came as a surprise was the increasing number of sales being concluded in India at relatively good levels, with cash buyers offering prices beyond break even levels. In Pakistan, although an enhanced buying interest came into the foreground last week, local buyers were unable to compete with their Indian “rivals”, thus not securing any tonnage.
Add to this the total absence of any wet potential demolition candidates, and there you have it, a week with no sales. Bangladesh has remained silent as well, with the recent budget announcement playing its’ role. No change in China, as activity is restricted solely to domestic tonnage, while Turkey seems to emerge as the destination for smaller LDT vessels, taking advantage of the softening sub-continent prices, keeping local facilities busy”, Shiptrade concluded.
Newbuilding Activity
Meanwhile, according to the latest weekly report from Clarksons Hellas, newbuilding activity over the course of the past week was mainly focused in the dry bulk and gas tanker segments. According to Clarkson Hellas, in dry bulk “Pan Ocean have placed an order for two firm 207,000 DWT Newcastlemaxes at New Times, with both vessels due to deliver within the second half of 2016. Also in China, Conti Reederei have extended their order for 64,000 DWT Ultramax to a total of 20 vessels by declaring a further eight options. The first in the series will begin to deliver in the early part of next year, with the latest additions for delivery from 2017 onwards. In the same sector JJ Ugland have announced an order at Imabari for two firm 63,000 DWT Ultramax due to deliver in 2017. Blumenthal are also understood to have ordered two firm 34,000 DWT Handysize at Hakodate Dock, similarly due for delivery in 2017″.
The shipbroker added that there was “just one order to report in tankers; CSBC (Keelung) have contracted a pair of 40,000 DWT Handy Product Carriers with Chinese Petroleum Corp (CPC) due to deliver within the final quarter of 2016. A spread of orders across the sizes in the gas market. Starting with the largest, GasLog announced an order for two firm plus up to four option 174,000 CBM LNGCs at HHI. The first vessels are planned for delivery in the second half of 2017 with options from end 2017 and into 2018 if declared.
In the midsizes, West Africa LPG have declared an option for one additional 38,000 CBM LPG carrier at Hyundai Mipo, taking the series to two vessels. The first is due for delivery within the end of 2016 and second vessel in early 2017. Epic Gas have ordered a third 7,500 CBM LPG carrier at Sasaki in Japan, with delivery in the final quarter of 2016. Lastly, K-Line have announced two further 7,500 CEU car carriers at Shin Kurushima for delivery in 2017, taking the series to four vessels”, Clarkson Hellas concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- The University of Queensland
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
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