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Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expressed in new building ordering activity. The fall of new building prices across the board has been enough to entice many ship owners back in the yards, although, the pace of newbuilding orders is nothing like the previous years. According to the latest monthly report from Golden Destiny's analyst Maria Bertzeletou, investors have continued to exhibit high interest for dry bulk carriers and offshore vessels. A total of 96 orders were placed in a usually "slow" month, on account of summer holidays. These orders represent vessels with a total carrying capacity of about 3.5 million tons and a total invested capital of of more than $5,9 billion, 3% down from July’s newbuilding business and 22% up from previous yearly levels due to a 52% and 150% increase in the ordering activity of bulk carriers and special projects respectively.
In the report, Bertzeletou said that "overall, July and August were months of lower newbuilding business, averaging less than 100 new orders reported worldwide compared with June that ended with 140 new orders reported from a 555% rise in the placement of new contracts for special projects, while April was the “month” of the year with a record of 207 new orders reported from a 152% boost in bulk carriers contracts, 83 new contracts were reported in the bulk carrier segment in contrast with 35 and 23 fresh transactions in August and July respectively.
Bulk carriers still hold a substantial share of the total newbuilding business with 277 orders reported in January-August period from a total of 937 new orders worldwide for all vessel types, 289 reported contracts in the offshore segment, 155 for tankers, 53 for boxships and 78 for gas tankers. However, the fall of newbuilding demand from 2011 and 2010 levels is noticeable, when 1187 new orders were reported worldwide in January-August 2011 with 437 fresh transactions in the bulk carrier, 128 in the tanker, 69 in the gas tanker and 292 in the container segment. In 2010, 1221 new orders had been reported in January-August period, with an impressive number of transactions for bulk carriers, 700 new orders, with only 57 new contracts for boxships, 38 for gas tankers, 85 offshore and a substantial higher amount of newbuilding business in the tanker segment than 2012 and 2011 levels totaling 241 new tanker orders reported".
Another trend observed, which is bound to keep growing the the fact that "Supramax and ultramax vessel eco friendly designs in the bulk carrier segment are in the spotlight of Greek and foreign investors with Chinese yards grasping 66% and 78% share of August and July bulk carriers’ newbuilding activity. In August, Japan also showed some strong volume of newbuilding contracts sealed in the handysize bulk carrier segment of 30,000-39,000dwt, when in July zero volume of business by Japanese yards was reported, with 4 units of 34,000dwt won by Wisdom Marine of Taiwan and 6 units of 35,000dwt by Fednav of Canada" said the report.
It concluded by mentioning that "Hellenic owners keep their conservative strategy in the placement of newbuilding contracts with bulk carriers being their primary focus. Chinese yards won 4 ultramax newbuilding contracts of 64,000 dwt bulkers by Laskaridis Shipping, while Japanese yard IHI Marine United won 2 supramax newbuilding contracts for two 56,000dwt bulker due to the long established relationship of the owner, DST Shipping, with the yard. In August 2011, Chinese yard had won three very large ore capes of 206,000dwt by Polembros Shipping. Overall, Hellenic owners have placed 86 new orders in January-August 2012, 35 new transactions in the bulk carrier segment, 18 for boxships, 17 for gas tankers, 2 pure car carriers and 14 tankers. In a similar period of 2011, Hellenic owners placed 132 new orders in January-August period, 47 new orders in the bulk carrier, a record business in the container segment with 44 new orders, 20 new orders in the gas tanker and 16 new orders in the tanker segment. Year “2010” was an exceptional year for Greek newbuilding business with 215 new orders reported in January-August period, 145 new orders in the bulk carrier, 59 in the tanker, only 4 in the container and 9 in the gas tanker segment".
Meanwhile, in a separate weekly report, Clarkson Hellas said earlier that "the tough financing and market conditions, combined with a more than challenging macroeconomic environment have begun to take their toll in the newbuilding market, with both ship owners and shipyards' earnings performance being dubbed as below par. It added that "the newbuilding market continues to operate within the confines of a tough Macroeconomic environment. This has been highlighted this week by various Owners, with interests across the tanker, container and car carrier sectors, reporting first half losses Y-o-Y. This, in tandem with the similarly subdued earnings being posted by the yards for the same period, continues to highlight the challenging trading environment within which the market is operating" said Clarkson Hellas.
It added that "the Korean MKE (Ministry of Knowledge Economy) has stated that for the first time in the past 19 years, they expect the export value of ships and structures for Korea will decline in 2012, which seems unsurprising given the challenges of the debt market at present, which of course makes investment in the newbuilding market somewhat tough to say the least.
That said, there have still been reports of new business being concluded this week, with the yards proving that economical designs are key to winning new business and it will be those Owners who have cash available for pre delivery instalments, going to be the ones benefiting in the charter market once these ships hit the water" it said.
Source:Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Parliament of New Zealand
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
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