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Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slowed down their newbuilding plans. One could attribute such a development to the summer lull, but this hasn’t been the case this year. Instead, according to shipbrokers, the current slow trend in the market is a result of the recent slump of the dry bulk market. According to shipbroker Golden Destiny, the average value of the Baltic Dry Index was down by 13% this July, compared with June, while the fall, compared to the equivalent month of the past year is 29% (or 327 points).
According to the latest monthly report from the Piraeus-based shipbroker, “the second week of August brought a glimmer of hope, but purchasing interest remained very subdued with potential buyers waiting to see the final direction of the freight market environment from the beginning of September. Bulk carriers have lost their strength with shipping investors slowing their newbuilding plans to record lows for this year of less than 50 newbuilding orders”.
The shipbroker noted in its monthly report that “overall, S&P activity in the secondhand market for July2014 ended at levels of less than 90 vessel sales / purchases, when in July 2013, were at record highs of excess 120. Scrapping activity has showed very weak levels of less than 70 vessel disposals due to sharp downward correction in container volumes, whereas bulk carriers kept almost a steady pace of activity. Despite the decrease of secondhand purchases during July, the first seven months of 2014 ended with 20% year-onyear increase in the average number of weekly reported S&P transactions( 30 vessels from 25 vessels in 2013), and up by 36%, compared with 22 vessel purchases in the first seven months of 2012”.
It added that “in the newbuilding market, the ordering levels remain excessive at 93% higher levels than the volume of secondhand purchases. Newbuilding activity represents 29% higher levels than last year (58 new orders on average reported per week in January-July 2014 compared with 45 in 2013) and up by 132% from 2012 levels. (25 new orders on average reported per week in January-July 2012)”. Meanwhile, in the demolition market, the scrapping appetite of shipping players remains at lower levels than last year with 16 vessel disposals per week, on average, from 18 in 2013 and 2012, Golden Destiny concluded.
In a separate report this week, shipbroker Allied Shipbroking said that over the past few days, activity is finally starting to show signs of recovery. “Pleasantly, charter rates in the dry bulk sector are improving, especially in the Capesize segment, spreading expectations for a stronger/profitable fourth quarter. The soft charter rates that have been preceded, reduced vessel’s asset values which can be ascertained when we compare the sale of NAVIOS TITAN (82936, 2005, Jap) in the region of USD 18 Mill to Greeks, with the sale of the ex-GRAND CHALLENGER (82992, 2006, Jap) for USD 25 Mill during April. On the wet side, China’s government is deciding whether to double up the crude oil imports by smaller and independent refineries. Such decision would contribute to the further expansion of the Chinese import market, while on the other hand would conduce to the easier absorption of the forthcoming –on order- vessels. Talking with tangible facts, it is worth to mention that during last year, the license for those refineries was to import approximately 200 thousand barrels per day, while government is now considering increasing this to 400 thousand barrels per day. In light of the above on the S&P now, it has been reported that clients of Pakistan National Shipping Corp have moved in the Aframax sector purchasing the AMBELOS (105315, 2006, Jap) at USD 33 Mill, which is considered to be in line with the market”, said Allied.
It concluded that “moreover on tanker market, the two largest shipping firms in China, the China Merchants Energy Shipping and Sinotrans, are incorporating in order to set up USD 1,1 Bill VLCC joint venture. CMES will have a 51% stake of the new venture, contributing with assets worth around USD 565 Mill including nine VLCCs, while Sinotrans will be holding the rest 49% with and investment of USD 543.78 Mill in cash”, Allied Shipbroking concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- The University of Queensland
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
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