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