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