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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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- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Planning Commission, India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
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