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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 $12.75 mill", Lion Shipbrokers concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
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