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Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market, offering some discounts to the bold owners who will invest in today’s market conditions, especially given the reluctance from bankers to back such investments through financing. According to the latest weekly report from shipbroker Allied Shipbroking, “the recent dry spell in new contracting seems to have finally pushed the yards to the edge, dropping their price ideas in the hope that they can finally attract some buying interest”.
However, as the shipbroker noted “it might prove to be too little too late., as during the past couple of months secondhand prices have rapidly moved on a downward slope making the gap between them and any new contracting price seem excessive, especially when one considers the difficulties still faced in the freight market. The fact of the matter is that it will be all up to any further consolidation in the market that could act as a positive influence for the well performing shipbuilders, especially in the case of China, were there you have more intense competition for securing dry bulk contracts. One of the most notable deals this week was made by Germany’s Hapag-Lloyd for five firm Super Post Panamax (10,500dwt) contain-erships at S. Korea HHI for a price of US$ 104.0m with delivery be-tween 2016 and 2017″.
Meanwhile, in a separate report, Clarkson Hellas noted that there were “no new orders to report in either dry bulk or tankers, with a continued focus on the more specialised markets. In containers Hapag-Lloyd have confirmed an order for five firm high reefer 10,500TEU container carriers at Hyundai Samho with the first three vessels reported to be deliver within 2016. We’ve seen two fresh orders in the car carrier market, starting with Mitsui OSK announcing an order for four firm panamax beam 6,800 CEU PCTCs at Minami Nippon – with delivery of two vessels each in 2017 and 2018. This continues the relationship between shipyard and owner, with Mitsui OSK currently having close to 30 Minami Nippon built car carriers in their fleet according to our records. NOCC also contracted two firm plus two optional 6,500 CEU vessels at Hyundai Samho, with delivery from the end of 2016. This similarly continues the existing relationship between both shipyard and owner with NOCC currently having four Hyundai built vessels in their fleet”.
It added that there was “further ordering in LPG, with CSSC Shipping contracting two firm 85,000CBM LPG carriers at Jiangnan Changxing. Pricing is understood to be region USD 74m per vessel with delivery in the second half of 2017. Both vessels will go on charter to Tianjin Southwest when delivered”.
Shipbroker Intermodal also noted that “despite the fact that the reported newbuilding activity of the past month brought back memories of better days in the industry, the number of last week’s revealed dry bulk and tanker orders comes as a reminder that shipbuilding is still very much in the woods. Large orders remain a memory of the past, while even in the case where these pop up, as Seaspan’s recent order, these are always on the back of long T/C contracts. In regards to dry bulkers things are still very quiet, with newbuilding prices for the bigger size segments continuing to drop amidst non-existent activity. Given the recent new lows in the resale market, we expect sooner rather than later to see the Capesize price touching or even slipping below $50.0m, while should the freight market insists at current lows throughout the summer period as well, 2012 price levels might be revisited before the end of the year. In terms of recently reported deals, Italian owner, D’Amico, placed an order for two firm LR1s (75,000dwt) at Hyundai MIpo, in S. Korea, for a price of $44.0 each and delivery set in 2017″, Intermodal concluded.
However, in the S&P market, Allied said that “despite the still pessimistic approach taken by many regarding the near term prospects of the dry bulk market, activity continues firm for yet another week. At the same time there is a lot volatility still wit-nessed in the market with a number of deals reported done at strong discount levels, showing the bargain hunting nature still seen amongst most buyers. With purchases being of a perspective nature, there is a slight hint that we may well be approaching further price drops going forward. On the tanker side, product tankers are still taking a leading role, with a number of deals reported in both the medium and long range sizes. Interest is likely to remain keen for these vessels, albeit with minimal appetite for any significant premiums to be given. All this may well change if they continue to hold their earnings at such firm levels, something that will likely lead gear more speculative buys”, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
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- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
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