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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, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
Wednesday, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
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- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
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