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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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Sunday, 08 February 15
BDI FELL CONTINUOUSLY HIT A THREE DECADES LOW
COALspot.com: This week Baltic Exchange Dry Freight Index (BDI) fell continuously hit a three decades low.
The BDI continuously fell and was d ...
Friday, 06 February 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 1.1% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 20.1 million short tons (mmst) of coal ...
Friday, 06 February 15
SHIP DAMAGED BY FIRE CAUSED BY PIRATES FOUND TO BE CONSTRUCTIVE TOTAL LOSS - TAYLOR WESSING
KNOWLEDGE TO ELEVATE
The High Court was asked to determine a number of preliminary issues, including whether a vessel was a constructive total ...
Thursday, 05 February 15
BDI HAS NOW FALLEN A LEVEL CLOSE TO THE INDEX'S HISTORIC LOW - INTERMODAL
They say a picture is worth a thousand words and in this instance just one look at the tables above is enough to understand the great pressure the ...
Thursday, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
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- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
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