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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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Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
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