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Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According to the latest report from shipbroker Clarkson Hellas, there were “a couple more specialised orders to report in the dry market. US based Vulica Shipping have contracted two firm 68,000dwt Self-Unloaders at Jiangsu Hantong. Pricing was not revealed, however delivery of both vessels is planned for the first half of 2017. Also in China, Ningbo Marine Co. Ltd. has contracted three firm 49,500dwt bulk carriers at Jinling Shipyard with delivery in the fourth quarter of 2016 and first quarter of 2017. Pricing was announced at RMB 170m per vessel (region USD 27m) however this will of course be including a domestic tax. A yet unknown Japanese buyer has also contracted two firm 89,000dwt post-panamax bulkers at Sanoyas with delivery in 2017".
The shipbroker also noted “continued activity in the large crude market, with clients of Metrostar reported to have ordered two option two 300,000dwt VLCCs at HHI with delivery of the first vessels understood to be in late 2016. It also came to light this week that Meiji Shipping have ordered a single 320,000dwt VLCC at JMU, with delivery from their Ariake facility in the first quarter of 2017. Sincere Navigation also confirmed that they have swapped their two Capesizes on order at SWS to one 320,000dwt VLCC for delivery in 2017. A couple of new orders in gas, starting with DSME announcing an order for one 173,400cbm LNGC for delivery in 2018. This vessel is understood to be a further extension of a series for one of the yard’s existing clients. KSS Line announced a contract with Hyundai Mipo for one 38,000cbm midsize LPG carrier for delivery in 1Q 2017. This order is understood to also include an option for one additional vessel for delivery in mid-2017 if declared.
ADA Shipyard in Turkey have taken an order for two firm 70m double ended ferries from Fjord1 of Norway. The vessels will be based on a design from Multi Maritime with capacity for 199 passengers and 60 cars. Delivery is due in 2016", Clarkson Hellas concluded.
In a separate report, shipbroker Allied Shipbroking said that “further corrections have been noted in most of the quoted prices by shipbuilders, while it looks likely that with the further softening of steel prices, we may well be set for even further discounts down the line. At the moment many are holding a fairly pessimistic outlook for the order intake that most shipbuilders will be able to secure this year, putting pressure on some of these builders who had shown poor financial performance during 2014 and it will likely lead many them to take under serious consideration further restructuring of the opera-tions. At the same time, some of the S. Korean shipbuilders are fairly worried about the nock on effects from the current depressed oil pric-es, as they expect it will hit one of their most profitable sectors, that of the offshore market, leaving them with fewer orders for these high-ly specialized and often quite significant profit generating orders. This could end up further heating up the competition on the more conven-tional orders, namely tankers and dry bulkers, which in turn could push for even further drops in prices during the next couple of months”.
In the Sale & Purchase market, Allied said that “discounts are still being seen amongst the reported deals, while the gap between premium and non-premium units is getting ever wider. Amongst the reported sales this week and although it is likely an old deal, the Panamax “THALIA” (75k, 2001 blt, Japan) is rumored to have gone to Greek buyers for a price of US$ 9.7m. Further to our last week’s report, it is worth pointing out that the “CAPTAIN V. LIVANOS” (57k dwt, 2011 blt China) has not been sold, while the “YM RIGHTNESS” (78k dwt, 2004 blt Chinese Taipei) achieved its high price due to the inclusion of a lease-back deal back to sellers at a rate of USD 9,000/day for 6 years. At the same time things are getting even more bullish for tankers. With regards to rumored deals this week, the LR2 “SARK” (113k dwt, 2009 blt China) has achieved a price of US$ 40.0m.
Lion Shipbrokers added that “asset values are becoming softer and softer as more and more ships of all sizes are flooding the second hand market, however buying interest is currently low to almost non-existent. Is today a good opportunity to invest in shipping or not? Is the long- awaited recovery near or years away?”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
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- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
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