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Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have been very active in both the newbuilding and the secondhand markets, during the first month of 2014. According to shipbrokers' reports, ship owners around the world have invested into 246 newbuildings and 201 second hand vessels. Availability of financing (at least for some owners), together with still attractive pricing have been the main reason for the completion of many deals over January. But, it will be interesting to see, how this trend will play out in the coming months, with ship prices on the rise.
According to the latest monthly report from shipbroker Intermodal, "the newbuilding market managed to keep much of its momentum while entering the New Year. Dry bulkers and tankers are still managing to hold interest with 112 and 38 units being ordered respectively. Despite all this there has been a slight slowdown as owners take a more precautious approach and seem to hold back on extra ordering till they see more clear signs as to how the market will be like in 2016 (the year where most of these new orders will be scheduled for delivery)".
Similarly, in the second hand market, it's been "a very strong start to the year for the secondhand market with significantly more activity then we had seen in any of the previous 12 months in terms of units changing hand, while also signifying a greater interest for larger size units in most sectors", Intermodal said.
In terms of demolition market activity, the trend has remained downward. During the month of January, there were just 86 ships reportedly sold for scrap. Intermodal mentioned that "demolition activity continues to drop further in terms of activity with volume in January being considerably lower than any month we had seen in 2013. This has once again been despite the good price levels been given by scrap buyers, pointing towards a lower willingness from ship owners to scrap ever younger vessel", the shipbroker concluded.
Meanwhile, in the second hand vessel market this past week, Piraeus-based shipbroker Golden Destiny noted that there were "47 transactions reported worldwide in the secondhand and demolition market, down by 11% week-on-week with 13% decrease in secondhand purchases and 7% lower scrapping volumes from the activity reported in the last week. At similar week in 2013, the total S&P activity in the secondhand/demolition market was standing at 6% higher levels, with 50 transactions reported and secondhand ship purchasing was standing 27% lower than the levels of newbuilding orders".
According to the shipbroker, "container ships held the lion share of this week’s S&P activity -29% share and 23% share respectively, bulkers and tankers -21% share each, while only one S&P deal reported for liners. The highest invested capital is reported in the tanker segment with large activity reported in large vessel size categories (panamax segment of 4,000-5,000TEU for vessels built China/South Korea)", Golden Destiny said.
In a separate report on the second hand ship market this week, Lion Shipbrokers said that with Lunar New Year holidays now over and Far East slowly getting back to business, things could start picking up this week, both in terms of transactions concluded, but also in the dry bulk freight market. According to Lion, numerous inspections are currently taking place, indicating that more deals are on the way.
In the dry bulk market, "Modern caper CAPE SEAGULL (175K BLT 2012 JIANGSU/CHINA) was committed to undisclosed interests for $47 mill (price in line with market). Sinokor’s vintage panamax HANSUNG SUNRISE (73K BLT 1993 HYUNDAI/S. KOREA LDT 10,353 MT) has been snapped by Greek buyers for $7.5 mill, having a Subcontinent scrap value today of about $4.2 mill. In an off market deal, Greek buyers have purchased modern supramax ASIA (57K BLT 2010 COSCO ZHOUSAN/CHINA CR 4X30T) for $22.4 mill. Lomar’s supramax OCEAN PRESIDENT (51K BLT 2001 OSHIMA/JAPAN CR 4X30T) attracted $14.7 mill basis drydocking due, to clients of Omicron of Greece, while two weeks ago, smaller sister NIKKEI PHOENIX (46K BLT 2002 OSHIMA/JAPAN CR 4X30T) went for $16 mill (also to Greeks). Clients of Ikarus of Greece agreed to pay a firm $12.7 mill for late 90’s handymax SLAVNIK (46.5K BLT 1998 OSHIMA/JAPAN CR 4X25T), same price with early January’s sale of slightly bigger unit EILHARD SCHULTE (49K BLT 1999 IHI/JAPAN CR 4X25T) for $12.75 mill", Lion Shipbrokers concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- White Energy Company Limited
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Trasteel International SA, Italy
- Marubeni Corporation - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
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