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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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Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As s ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
New patterns emerging as energy demand growth decoupled significantly from GDP growth for the first time in 2014
Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
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- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Planning Commission, India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- White Energy Company Limited
- Goldman Sachs - Singapore
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
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