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Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up bargains at the second hand sales market, while tanker owners are mostly riding out the current wave of economic uncertainty, as a result of the slowing down of the world’s economy and the newly added fear of a Brexit.
According to the latest weekly report from shipbroker Allied Shipbroking, in the newbuilding market, “a trickle here a trickle there and still short of anything noteworthy to keep this market alive. The relatively few number of orders continues to pound on the shipbuilding industry, while the few buyers in the market are taking their time, knowing that they hold the upper hand. There are talks circulating of an imminent order to be placed by French liner operator CMA CGM at South Korea’s big three shipbuilders for another set of ULCV container ships, though being at a preliminary stage, it is unknown for how many and at what price these will be booked when the time comes. The containership market is one of the few that can provide some sort of life line during the current market, as despite the lacking performance noted in the freight market, the paradoxical demand for new bigger ships created by the intense competition by liner operators keeps interest in the newbuilding market firm. These orders may well be few in number but usually provide a very good cash flow and good margins for the shipbuilder, often making the difference between survival and default”.
Meanwhile, in a separate report, which is an indication of the “drought” period that the newbuilding market is experiencing right now, shipbroker Clarkson Platou Hellas noted that it was “a relatively quiet week in the Newbuilding market with only one order to report. In Dry, U-Ming Marine Transport Corp. have announced placing an order at Oshima Shipbuilding Co., Ltd. for two firm 81,500 DWT Kamsarmax. It is understood that the deliveries for the duo are set throughout 2019 and 2020 from Saikai, Japan whilst pricing remains undisclosed. The Taiwanese owner already have experience of taking delivery of four 85,066 DWT Bulk Carriers from Oshima back in 2014 and 2015”, said the shipbroker.
In a report this week, Lion Shipbrokers noted on the S&P Market, that although this short dry bulk rally is a good opportunity for all real sellers out there to sell fast (as volatility prevails), “this week was rather dull, as we recorded just 7 transactions (2 capes, 1 supramax, 1 handymax & 3 handies). Prices are sliding further, as it is clearly evidenced in the sale of vintage cape KOHYOHSAN (172K BLT 2001 NKK/JAPAN) sold to Turks for $5 mill while seven months ago (July 2015) she was reported sold for double the money (i.e $10 mill). Four year old Diamond 53 design supramax ANNE KJERSTI (53K BLT 2012 HALONG/VIETNAM) has changed hands for the soft level of $6 mill, while Germans have purchased at auction handysize resale LONG FORTUNE (36K DELY JUNE 2016 EX- SHANDONG HUAHAI/CHINA) for just $6.75 mill. Daiichi controlled handy OCEAN KITE (37K BLT 2012 HYUNDAI MIPO/S.KOREA) went to Vietnamese buyers for $8.3-$8.5 mill, while her exact sister OCEAN JEWEL was committed one month ago for $8.9-$9 mill (about half a million more)”, said the shipbroker.
In the demolition market, Lion Shipbrokers noted that “the genocide of larger bulkers continues; 31 capers (including ore carriers) and 44 panamaxes have been torched since the begging of this year. Pakistan has secured the single skin FPSO unit FARIDAH (LDT 41,261) for the firm price of $245 per lt after several weeks of on/off negotiations basis advance payment in full prior her sailing from A.G. to Gadani’ shores. Bangladesh has snapped 2 VLOC units, namely RENATE (LDT 32,450) & WUGANG ORIENT (LDT 37,342) for $230 & $234 respectively (plus 3 capers and 1 or 2 panamaxes). The rest of the scrapped tonnage this week went to India, despite the continuous softening of the demo rates as Alang plots are quickly filling up (currently at 80% capacity).
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
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- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
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