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Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P market, as it was in the past few week. After all, prices had started to firm up quite a bit. According to the latest report from Lion Shipbrokers, "buying interest is decreasing as ships' values have firmed beyond the budget of many prospective buyers out there. We recorded less second hand transactions this week (20 sales compared with 30 sales of last week)", said the shipbroker. In a similar weekly report, shipbroker Golden Destiny reached the same conclusion, noting that there were 43 transactions reported worldwide, both in the secondhand and demolition markets, down by 38% on the week, with 42% decrease in secondhand purchases and 29% lower scrapping volumes from the activity reported in the last week.
According to Golden Destiny, "at a similar week in 2013, the total S&P activity in the secondhand/demolition market was standing at 5% lower levels, when 41 transactions had been reported and secondhand ship purchasing was standing 47% higher than the levels of newbuilding orders. The ordering appetite was minor for the main conventional vessel segments. (15 total new orders, 7 bulkers, 2 tankers, and 6 special projects)". In total, Golden Destiny reported 26 vessels changing hands for a total amount of $513,7 million, while two deals were done at an undisclosed price (10 bulkers, 10 tankers, 1 gas tanker, 1 liners and 4 containers). "Bulkers and tankers held the lion share of this week’s S&P activity -38% share each, containers 15% share, only 1 S&P deal reported in the gas tanker segment.. The highest invested capital is reported in the tanker segment for region $185 mil, due to intense S&P activity reported in the crude tanker segment", said the shipbroker.
Among the most notable deals, Lion Shipbrokers reported that in dry bulk carriers, "Hanjin’s panamax BARITO (73K BLT 1996 HUDONG/CHINA SS/DD DUE AUG 2016) has changed hands locally within South Korea, achieving a price of $7.2 mill. Price is similar to the recent deals of three years older units of HANSUNG SUNRISE (73K BLT 1993 HYUNDAI/S. KOREA) and VITAPRIDE (69K BLT 1993 IMABARI/JAPAN), illustrating the premium buyers are willing to pay extra for South Korean and especially Japanese built units. Four supramaxes changed hands this week; clients of Giavridis of Greece have acquired Japanese controlled TRITON STORK (56K BLT 2004 MITSUI/JAPAN CR 4X30T) for the market level of $21.15 mill. In an en bloc deal, clients of Thoresen of Thailand have purchased Cido’s supramax trio TOP HARMONY, TOP FREEDOM & TOP ISLAND (55K BLT 2005/05/06 OSHIMA/JAPAN CR 4X30T) for $68.9 mill ($22.6 mill, $22.6 mill & $23.7 mill respectively). Remind you that last week, similar unit SKY MARINER V (53K BLT 2005 IMABARI/JAPAN CR 4X30T) was committed for $22 mill. Modern handy WEST FORTUNE (28K BLT 2009 SHIMANAMI/JAPAN CR 4X30.T DD DUE APR 2014) commanded a firm $17.5 mill basis special and dry-docking surveys due next month", said the shipbroker.
Meanwhile, in the demolition market, Lion noted that "the Subcontinent market is stable at firm levels, with India monopolizing almost all of the reported tonnage for one more week. China remains stable at levels in the low-mid $300, same as Turkey, paying levels in the region of $300". Similarly, Golden Destiny mentioned that "India holds firm position in the demolition arena with container disposals in the panamax segment surging and yards fulfilling their capacity. The high influx of container tonnage for disposal may cause, in the short term, a downward pressure in scrap rates once the arrivals for beaching begin and yards being full of capacity. Bangladesh and China remain quiet, while in Pakistan, there is still short of activity for tanker disposals by winning this week one capesize bulker".
Demolition activity was down by 29% on the week, despite a large increase in bulker scrapping activity (up by 250% on the week). " In terms of deadweight sent for scrap, there has been 36% weekly increase with strong reported disposals for large vessel sizes, 3 capesize-2 panamax bulkers, 1 VLCC-1 panamax in the tanker segment, 2 panamax in the container. India is reportedly to have won 7 of the 17 demolition transactions, Bangladesh 0, Pakistan 1, China 2, Turkey 1 and 6 reported vessel disposals at undisclosed demo country.
Benchmark scrap prices in the Indian subcontinent region: $420-430/ldt for dry and $450/ldt for wet cargo. Scrap prices in China hover at $310/ldt for dry and $330/ldt for wet cargo.
Notable demolition transactions: Reported in the container segment, M/V “HANJIN IRENE”4,024 teu with 18,888 Ldt, built 1994 fetched $485/ldt in India asis Fujairah with sufficient bunkers for the voyage to India. At a similar week in 2013, demolition activity was up by 12%, in terms of the reported number of transactions, when 19 vessels had been reported for scrap of total deadweight 689,599 tons with 4 disposals for bulkers, 3 tankers, 8 liners, 2 containers, 1 passenger/cruise and 1 Ro-Ro. Ship-breakers in Indian subcontinent region had been offering lower levels of the current year, $385-400/ldt for dry and $420/ldt for wet cargo", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
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- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
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