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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, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Banpu Public Company Limited - Thailand
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- Energy Link Ltd, New Zealand
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- Ministry of Finance - Indonesia
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- Indian Oil Corporation Limited
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- Economic Council, Georgia
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- Agrawal Coal Company - India
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- Parliament of New Zealand
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- Alfred C Toepfer International GmbH - Germany
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- The Treasury - Australian Government
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- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
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- White Energy Company Limited
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
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- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
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- Timah Investasi Mineral - Indoneisa
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- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
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- Goldman Sachs - Singapore
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- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
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- The University of Queensland
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- Kohat Cement Company Ltd. - Pakistan
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- Petron Corporation, Philippines
- Wilmar Investment Holdings
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- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
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