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Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded substantially as a result, a new weekly report from Clarkson Hellas suggests that shipyards in the Far East have resisted any significant drop in newbuilding prices for the past six months. "However, it remains to be seen whether increased levels of enquiry can outweigh sluggish charter rates and an oversupplied market to begin to push newbuilding pricing upwards. Away from the shipping market, shipyards have also had to account for a steady increase in the price of steel since September last year, which has inevitably placed further pressure on the yards to achieve an increased margin for new contracts", the report said.
According to Clarkson Hellas, "looking at the Dry Bulk market, a number of previously rumoured orders have now come to light, including Fredriksen interests boosting their already significant Capesize orderbook. Understood to have been signed last month, SWS received an order for a further 4 x 180k Capesize vessels from Clients of Frontline with pricing understood to be in the region of USD 47 Mill with delivery of all four vessels in 2015. This brings the total Frontline Capesize orders to 8 firm vessels plus two sets of options for a further 4+2 vessels. Another order thought to have been concluded last month also emerged this week with Clients of Oceanbulk Maritime contracting 2 + 2 80,000 DWT Kamsarmax at Japan Marine United (JMU). Although pricing is undisclosed, delivery of the firm vessels is planned from Q1 2014.
The total number of reported Capesize orders, excluding options, now comes close to 30 vessels, and considering further orders understood to be currently under discussion, the total Capesize orders placed in this first quarter look likely to exceed the total number placed throughout the whole of 2012", Clarkson Hellas concluded In a separate report, shipbroker Golden Destiny said that "in the newbuilding market, the first days of March ended with firm emerged newbuilding bulk carrier business in Japanese yards in all vessel sizes and strong ordering interest for capesize vessels.
Oshima Shipbuilding reported to have won an order for ultramax and panamax bulk carriers, while Tsuneishi Cebu in Philippines gained orders in the kamasarmax, supramax and handymax size. In addition, new established Japanese shipyard, Japan Marine United, is said to have sealed capesize orders from Greek players" it said. Golden Destiny added that "overall, the week closed with 40 fresh orders reported worldwide at a total deadweight of 2,649,536 tons, posting 167% week-on-week increase from previous week with significant higher volume of contracts in the bulk carrier segment, up by 1600% week-on-week with a total of 23 new contracts.
In the offshore segment, the newbuilding business was very quite loosing their first ranking position from bulk carriers. This week’s total newbuilding business is almost at similar levels from similar week’s closing in 2012, when 43 fresh orders had been reported, 17 for bulkers, 2 for tankers, 7 for gas tankers, 6 for containers, 3 passenger/cruise and 8 special projects. In terms of invested capital, the total amount of money invested is estimated in the region of about more than $1,13bn, 13 newbuilding contracts reported at an undisclosed contract price. A hefty amount of money was invested in the bulk carrier segment, due to high volume of contracts in the capesize segment, by holding of more than 36% of the total amount of money invested in new contracts" it said.
"In the capesize segment, OceanBulk Maritime is said to have placed an order for two 180,000dwt vessels and Carras Hellas also another two similar vessels at Japan Marine United. The newbuilding cost has not revealed but it is estimated in the region of $46mil. In addition, Norwegian Frontline 2012 is said to have inked a letter of intent with Jiangsu New Yangzijiang for the construction of up to six 180,000dwt vessels, 4 with option 2 units, but price and delivery dates have not been disclosed. Furthermore, Japanese shipbuilder Mitsubish HI won an order from China Steel Express of Taiwan for two 200,000dwt capesize bulkers to be built at its Nagasaki yard. The delivery of these vessels is scheduled for second half 2014 and first half 2015, while the newbuilding cost is estimated in the region of $52,5per vessel. In the kamsarmax segment, Oceanbulk of Greece also confirmed ordering two kamsarmax vessels at Japan Marine United for delivery in 2014.
In the tanker segment, Croatia’s shipyard 3 Maj has signed a letter of intent with the Swedish shipping company Wisby Tankers to build six tankers for the transport of crude and oil products, according to the local business news portal SEEBiz. In the aframax segment, Scorpio Tankers sealed a contract for the construction of two 114,000dwt eco product tankers at Hyundai Samho HI of South Korea for delivery in the third quarter of 2014 at a newbuilding cost of $49,75mil each.
The contract includes fixed price option for the construction of two additional LR2 vessels. In the gas tanker segment, China Shanghai Waigaoqiao Shipyard won an order for the construction of two LPG carriers from Norwegian owner, IM Skaugen, for delivery June and December 2015 at a newbuilding cost of about $46mil each. The contract includes an option of two more vessels and they will be the first LPG carriers to be built by SWS yard. The vessels will have gas capacity of 17,000cum and will be powered by LNG and carry ethylene. In addition, Brave Maritime is said to have signed a contract for the construction of two 7,200cbm pressurized LPG vessels at Japan’s Kyokuyo Shipyard for delivery in the first half of 2014 at a newbuilding cost of $22mil each.
In the Ro-Ro segment, Croatian shipowner Jadrolinija has awarded the construction of its four 616 passenger, 145-vehicle ro-ros to local shipbuilder Uljanik Shipyard with delivery in 2014 at a newbuilding cost of $42mil each" Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
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- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
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