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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, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
Monday, 28 July 14
Q3' 14, SUB-BIT FOB INDONESIA COAL SWAP GAINED $ 0.08 DAY ON DAY AND $ 0.68 WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 increased by just US$ 0.08 day on day and US$ 0.68 week on week. The swap was lost U ...
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- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- White Energy Company Limited
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
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