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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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Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
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- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Economic Council, Georgia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
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