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Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According to the latest report from shipbroker Clarkson Hellas, there were “a couple more specialised orders to report in the dry market. US based Vulica Shipping have contracted two firm 68,000dwt Self-Unloaders at Jiangsu Hantong. Pricing was not revealed, however delivery of both vessels is planned for the first half of 2017. Also in China, Ningbo Marine Co. Ltd. has contracted three firm 49,500dwt bulk carriers at Jinling Shipyard with delivery in the fourth quarter of 2016 and first quarter of 2017. Pricing was announced at RMB 170m per vessel (region USD 27m) however this will of course be including a domestic tax. A yet unknown Japanese buyer has also contracted two firm 89,000dwt post-panamax bulkers at Sanoyas with delivery in 2017".
The shipbroker also noted “continued activity in the large crude market, with clients of Metrostar reported to have ordered two option two 300,000dwt VLCCs at HHI with delivery of the first vessels understood to be in late 2016. It also came to light this week that Meiji Shipping have ordered a single 320,000dwt VLCC at JMU, with delivery from their Ariake facility in the first quarter of 2017. Sincere Navigation also confirmed that they have swapped their two Capesizes on order at SWS to one 320,000dwt VLCC for delivery in 2017. A couple of new orders in gas, starting with DSME announcing an order for one 173,400cbm LNGC for delivery in 2018. This vessel is understood to be a further extension of a series for one of the yard’s existing clients. KSS Line announced a contract with Hyundai Mipo for one 38,000cbm midsize LPG carrier for delivery in 1Q 2017. This order is understood to also include an option for one additional vessel for delivery in mid-2017 if declared.
ADA Shipyard in Turkey have taken an order for two firm 70m double ended ferries from Fjord1 of Norway. The vessels will be based on a design from Multi Maritime with capacity for 199 passengers and 60 cars. Delivery is due in 2016", Clarkson Hellas concluded.
In a separate report, shipbroker Allied Shipbroking said that “further corrections have been noted in most of the quoted prices by shipbuilders, while it looks likely that with the further softening of steel prices, we may well be set for even further discounts down the line. At the moment many are holding a fairly pessimistic outlook for the order intake that most shipbuilders will be able to secure this year, putting pressure on some of these builders who had shown poor financial performance during 2014 and it will likely lead many them to take under serious consideration further restructuring of the opera-tions. At the same time, some of the S. Korean shipbuilders are fairly worried about the nock on effects from the current depressed oil pric-es, as they expect it will hit one of their most profitable sectors, that of the offshore market, leaving them with fewer orders for these high-ly specialized and often quite significant profit generating orders. This could end up further heating up the competition on the more conven-tional orders, namely tankers and dry bulkers, which in turn could push for even further drops in prices during the next couple of months”.
In the Sale & Purchase market, Allied said that “discounts are still being seen amongst the reported deals, while the gap between premium and non-premium units is getting ever wider. Amongst the reported sales this week and although it is likely an old deal, the Panamax “THALIA” (75k, 2001 blt, Japan) is rumored to have gone to Greek buyers for a price of US$ 9.7m. Further to our last week’s report, it is worth pointing out that the “CAPTAIN V. LIVANOS” (57k dwt, 2011 blt China) has not been sold, while the “YM RIGHTNESS” (78k dwt, 2004 blt Chinese Taipei) achieved its high price due to the inclusion of a lease-back deal back to sellers at a rate of USD 9,000/day for 6 years. At the same time things are getting even more bullish for tankers. With regards to rumored deals this week, the LR2 “SARK” (113k dwt, 2009 blt China) has achieved a price of US$ 40.0m.
Lion Shipbrokers added that “asset values are becoming softer and softer as more and more ships of all sizes are flooding the second hand market, however buying interest is currently low to almost non-existent. Is today a good opportunity to invest in shipping or not? Is the long- awaited recovery near or years away?”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
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- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
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