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Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of the current down time of the newbuilding market. With new orders dwindling by the day, especially on the wake of the dry bulk market’s oversupply issues, shipyards will be looking to heavily discount their prices sooner, rather than later. As such, many owners are refraining from more orders, until they see a clear indication of discounting.
According to the latest report from shipbroker Allied Shipbroking, “the pressure keeps on mounting on the newbuilding front, as the sub par performance in terms of new contracting is bringing on the pressure and forcing for further competition in terms of pricing beyond the sectors which are facing the biggest difficulties. We have slowly started to see discounts being offered beyond the dry bulk sector, as shipbuilders try to feed the market with incentive for further order-ing. Nevertheless, it all looks as though we may well close the year with some of the lowest activity volumes noted since the early 2000’s. Though many will see this as a positive, bringing about a fast paced decrease in the orderbook, which is something that we have been hoping for over the past five years, but at the same time the pressure placed on the market will put strong financial pressure on shipbuilders, possibly leaving a possibility for a small domino effect onto any parties that have provided backing for those same shipbuilders. In effect effort will now have to be placed on closer cooperation be-tween closely linked shipbuilders, while it might be the much needed push to drive the shipbuilding industry into further consolidation and leave fertile ground for further merger and acquisition deals to take place”, Allied said.
In a separate note, Clarkson Hellas added that there were “no new orders in either dry or wet this week, with the focus continuing to be on the more niche markets. We’ve seen a number of new contracts announced in Japan for LNG carriers. NYK Line confirmed contracts for two firm 165,000cbm LNGCs at MHI Nagasaki with delivery due in 2018. The vessels are due to go on charter to Mitsubishi Corp subsidiary ‘Diamond Gas International’, and will be based on the Sayaringo STaGE design. Trinity LNG Transport (a JV between K-Line, Imabari and Mitsui) also confirmed an order for a single 178,000cbm LNGC at Imabari with delivery in 2020. Uljanik in Croatia announced an order from Siem for two further 7,000ceu PCTCs taking the total series to five vessels. Delivery of the latest units is due in the end of 2017 and early 2018″.
Meanwhile, in the demolition market, Allied Shipbroking noted that “with most of the Indian Sub-Continent having filled up their quotas and looking to be taking their time going through their current inventories, activity started to slump slightly pulling down the offered prices with it. Taking into account however the performance of the mar-ket this year so far, it looks as though once the current purchases have been “digested” we may well be looking at another small price rally. The market has seemingly been able to keep pace with the large number of demo candidates that have been offered and looks more then ready to take on the rest of the year with similar zeal. Having said that we are slowly moving closer to the Monsoon season and it looks as though we will likely see 1-2 more firm round of purchases before the seasonally quieter early summer period begins. The lack of support from Chinese breakers still leaves a big gap in the market, though it looks as though the market has managed to hold up fairly well up to now despite their overall absence. This last point is likely to translate into an even softer monsoon season comparatively to what we witnessed in previous years in terms of pricing, though with the gap narrowing it might motivate for more tonnage to head their during the summer months at least”.
In a separate note, Athenian Shipbrokers said that “the sale of ships for recycling slowed again last week, with buyers throughout the sub-continent and especially in the Bangladeshi and Pakistani markets appearing for the most part content with deliveries already in their hands. Levels on offer certainly did not meet the expectations of shipowners, with dry vessels flooding the market. As long as there is no sign of an improvement in freight rates and bulker demolitions are still outpaced by new deliveries, the market does not expect that the supply of tonnage for demolition will dry up any time soon. In general Bangladeshi and Pakistani markets were quiet throughout last week, while Indian buyers were heartened by the local currency’s positive movement with a few sales taking place reportedly, albeit at low levels. Far – Eastern breakers once more did not compete on available tonnage, rather concentrating on subsidized Chinese – owned tonnage only”, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
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