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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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Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
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- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- The University of Queensland
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
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