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