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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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- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- The University of Queensland
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
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