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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, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
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- Intertek Mineral Services - Indonesia
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- ICICI Bank Limited - India
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- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
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- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
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- Ministry of Transport, Egypt
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- Salva Resources Pvt Ltd - India
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- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
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- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
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- Ministry of Finance - Indonesia
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- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
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- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
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- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
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- Eastern Coal Council - USA
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- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- The University of Queensland
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- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Parliament of New Zealand
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- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
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- CNBM International Corporation - China
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
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- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
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- McConnell Dowell - Australia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
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- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
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- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
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- Coastal Gujarat Power Limited - India
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- Agrawal Coal Company - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
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