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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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Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- The University of Queensland
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- VISA Power Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Australian Coal Association
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
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