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Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see the direction of asset prices and the levels of dry bulk freight rates as we move towards the end of the third quarter of the year. This according to the latest monthly report from shipbroker Golden Destiny, commenting on the second hand and newbuilding markets. The shipbroker noted that the first half of the year ends with negative sentiment in the dry bulk segment, while some spikes of upward momentum are seen in the tanker market and containers are trying to keep an upward momentum following the implementation of General Rate Increases.
Still, according to Golden Destiny, “long term prospects for dry bulk segment are still considered to be positive as China maintains its 7.5% GDP growth target and the first half of the year ended with an 19% year-on-year increase in Chinese iron ore imports. The downward incline of dry bulk freight rates has started to influence the direction of asset prices.
According to the assessments from Baltic Exchange, the value of a 5yrs old capesize bulker was at region of $50mil at the end of April, while it has now dropped to region $47,2mil, the value of a panamax bulker has decreased to about $25mil from 27,5mil at the end of April and the value of a supramax bulker has declined to about $25mil from $26,5mil. In the wet segment, asset prices keep on the high side with the value of a 5yrs old VLCC at about $73mil, from 70,6mil at end April, the value of an aframax at about $37,1mil from $36,7mil and the value of a MR-handymax tanker at about $26,6mil from $28,4mil.
In contrast with the slowdown of second hand purchases, newbuilding activity keeps hot with shipping players ordering a large volume of units in the ultramax bulker segment at Chinese yards, emerging stronger in the construction of new vessels in the crude tanker segment at South Korean yards, while they follow more conservative approach for container newbuildings. The hot ordering appetite is pushing upwards newbuilding prices with the cost of construction of VLCCs rising to even more than $100mil and prices for capesize newbuildings -208,000dwt fetching even $60mil”, said the shipbroker.
It added that “overall, S&P activity in the secondhand market for June 2014 ended at almost similar levels seen in June 2013 with stronger purchasing appetite for secondhand tankers and downward momentum in bulker and container purchases. Scrapping activity ended with a higher volume of business reported in June 2013 due to larger volume of disposals in the tanker, liner and container segment. The scrapping appetite seems that will be higher during the third quarter of the year due to the persistent downward dry bulk momentum, as the second quarter of 2014 ended with 16% increase from the volume of vessel disposals reported in the first three months of 2013″.
Meanwhile, “despite the decrease of secondhand purchases during June, the first six months of 2014 ended with 24% year-onyear increase in the average number of weekly reported S&P transactions( 31 vessels from 25 vessels in 2013), up by 27% year-on-year and up by 48%, compared with 21 vessel purchases in the first six months of 2012. In the newbuilding market, the ordering levels remain excessive at 94% higher levels than the volume of secondhand purchases and represent 46% higher levels than last year (60 new orders on average reported per week in January-June 2013) and up by 140% from 2012 levels. (25 new orders on average reported per week in January-June 2012)”.
Finally, “in the demolition market, the scrapping appetite of shipping players is floating at lower levels than last year as it keeps pace at 16 vessel disposals per week, on average, from 18 in 2013 and 2012. It remains to be seen if the third quarter of the year will reverse the downward momentum as June ended with 22% month-on-month increase in the volume of vessel disposals”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
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- San Jose City I Power Corp, Philippines
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
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