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Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of the current down time of the newbuilding market. With new orders dwindling by the day, especially on the wake of the dry bulk market’s oversupply issues, shipyards will be looking to heavily discount their prices sooner, rather than later. As such, many owners are refraining from more orders, until they see a clear indication of discounting.
According to the latest report from shipbroker Allied Shipbroking, “the pressure keeps on mounting on the newbuilding front, as the sub par performance in terms of new contracting is bringing on the pressure and forcing for further competition in terms of pricing beyond the sectors which are facing the biggest difficulties. We have slowly started to see discounts being offered beyond the dry bulk sector, as shipbuilders try to feed the market with incentive for further order-ing. Nevertheless, it all looks as though we may well close the year with some of the lowest activity volumes noted since the early 2000’s. Though many will see this as a positive, bringing about a fast paced decrease in the orderbook, which is something that we have been hoping for over the past five years, but at the same time the pressure placed on the market will put strong financial pressure on shipbuilders, possibly leaving a possibility for a small domino effect onto any parties that have provided backing for those same shipbuilders. In effect effort will now have to be placed on closer cooperation be-tween closely linked shipbuilders, while it might be the much needed push to drive the shipbuilding industry into further consolidation and leave fertile ground for further merger and acquisition deals to take place”, Allied said.
In a separate note, Clarkson Hellas added that there were “no new orders in either dry or wet this week, with the focus continuing to be on the more niche markets. We’ve seen a number of new contracts announced in Japan for LNG carriers. NYK Line confirmed contracts for two firm 165,000cbm LNGCs at MHI Nagasaki with delivery due in 2018. The vessels are due to go on charter to Mitsubishi Corp subsidiary ‘Diamond Gas International’, and will be based on the Sayaringo STaGE design. Trinity LNG Transport (a JV between K-Line, Imabari and Mitsui) also confirmed an order for a single 178,000cbm LNGC at Imabari with delivery in 2020. Uljanik in Croatia announced an order from Siem for two further 7,000ceu PCTCs taking the total series to five vessels. Delivery of the latest units is due in the end of 2017 and early 2018″.
Meanwhile, in the demolition market, Allied Shipbroking noted that “with most of the Indian Sub-Continent having filled up their quotas and looking to be taking their time going through their current inventories, activity started to slump slightly pulling down the offered prices with it. Taking into account however the performance of the mar-ket this year so far, it looks as though once the current purchases have been “digested” we may well be looking at another small price rally. The market has seemingly been able to keep pace with the large number of demo candidates that have been offered and looks more then ready to take on the rest of the year with similar zeal. Having said that we are slowly moving closer to the Monsoon season and it looks as though we will likely see 1-2 more firm round of purchases before the seasonally quieter early summer period begins. The lack of support from Chinese breakers still leaves a big gap in the market, though it looks as though the market has managed to hold up fairly well up to now despite their overall absence. This last point is likely to translate into an even softer monsoon season comparatively to what we witnessed in previous years in terms of pricing, though with the gap narrowing it might motivate for more tonnage to head their during the summer months at least”.
In a separate note, Athenian Shipbrokers said that “the sale of ships for recycling slowed again last week, with buyers throughout the sub-continent and especially in the Bangladeshi and Pakistani markets appearing for the most part content with deliveries already in their hands. Levels on offer certainly did not meet the expectations of shipowners, with dry vessels flooding the market. As long as there is no sign of an improvement in freight rates and bulker demolitions are still outpaced by new deliveries, the market does not expect that the supply of tonnage for demolition will dry up any time soon. In general Bangladeshi and Pakistani markets were quiet throughout last week, while Indian buyers were heartened by the local currency’s positive movement with a few sales taking place reportedly, albeit at low levels. Far – Eastern breakers once more did not compete on available tonnage, rather concentrating on subsidized Chinese – owned tonnage only”, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
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