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Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally during the month of February, pouring more than $14.7 billion in total. Number are higher on the year, but lower when compared with a record-setting month of January. According to figures compiled by shipbroker Golden Destiny, this monthly fall could be attributed to the Chinese Lunar New Year.
According to the Piraeus-based shipbroker's latest monthly report, there were 205 vessels ordered during February for a total purchasing price of $11 billion, while an additional 92 orders were contracted at a undisclosed price. These numbers represent an increase of 33% on the year, but a decrease of 27% on the month. Meanwhile, in terms of secondhand vessel purchases, the shipbroker reported deals for 149 ships for an invested capital of more than $3.71 billion, which represents a fall of 13% on the month, but an increase of 26% on the year.
In its commentary, Golden Destiny said that "February ended with firmness in secondhand purchasing and ordering appetite of shipping players, but with a declining trend from the record highs of the first month of the year. The Chinese Lunar New Year may have impacted negatively the investment trends with shipping players waiting to see the direction of asset prices and freight rates during March. Expectations remain firm for the current outlook of freight rates with rosy picture of dry bulk segment, uncertainties for the steady recovery of crude freight rates and sharp downward pressure in boxship rates".
It added that "overall, S&P activity in the secondhand market for February 2014 ended on firmer levels than last year and even sharper levels than 2012. The upward incline of secondhand purchasing appetite is being led mainly by 45% year-onyear stronger vessel purchases for bulkers. During January-February 2014, the average number of weekly reported S&P transactions is 38 vessels, up by 58% year-on-year compared with 24 vessel purchases in the first two months of 2013 and up by 111% from 2012 levels (18 vessel purchases)".
Meanwhile, "the highest level of investment continues to be centered on the newbuilding business as shipping players follow now more aggressive approach towards the construction of newbuilding units with the construction of LNG floating storage and regacification units emerging to be of high demand. Compared with the investments in the secondhand market, in terms of number of vessels, the ordering appetite for the construction of new vessels is 108% higher than the number of vessels purchased by shipping players worldwide.
For February 2014, the hot pace of new orders seems to have faded from the accelerated levels of January and December 2012, but it remains at much stronger levels than the activity of the first two months of 2013 and 2012. During the first two months of 2014, the average number of weekly reported new orders was 79, up by 139% yearon-year(33 new orders on average reported per week in January-February 2013) and up by 295% from 2012 levels. (18 new orders on average reported per week in January-February 2012)", said Golden Destiny.
Finally, "in the demolition market, the scrapping appetite of shipping players firmed during February with higher scrapping momentum in all main conventional vessel segments (bulk carriers, tankers, liners and containers). Remarkable monthly increases in the number of disposals for liners and containers, 333% and 130% respectively, led scrapping activity to 70% month-on-month increase. During February, the average number of reported demolitions per week increased to 18 vessels, up by 80% from previous month, but it still remains at lower levels than last year. During January-February 2014, the average number of weekly reported demolitions represents 26% year-on-year decline with 14 vessels reported on average per week in 2014 compared with 19 vessels disposals per week in 2013 and 18 vessel disposals in 2012", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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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 ...
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 ...
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- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
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