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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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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
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- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
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