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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 $60mil”, said the shipbroker.
It added that “overall, S&P activity in the secondhand market for June 2014 ended at almost similar levels seen in June 2013 with stronger purchasing appetite for secondhand tankers and downward momentum in bulker and container purchases. Scrapping activity ended with a higher volume of business reported in June 2013 due to larger volume of disposals in the tanker, liner and container segment. The scrapping appetite seems that will be higher during the third quarter of the year due to the persistent downward dry bulk momentum, as the second quarter of 2014 ended with 16% increase from the volume of vessel disposals reported in the first three months of 2013″.
Meanwhile, “despite the decrease of secondhand purchases during June, the first six months of 2014 ended with 24% year-onyear increase in the average number of weekly reported S&P transactions( 31 vessels from 25 vessels in 2013), up by 27% year-on-year and up by 48%, compared with 21 vessel purchases in the first six months of 2012. In the newbuilding market, the ordering levels remain excessive at 94% higher levels than the volume of secondhand purchases and represent 46% higher levels than last year (60 new orders on average reported per week in January-June 2013) and up by 140% from 2012 levels. (25 new orders on average reported per week in January-June 2012)”.
Finally, “in the demolition market, the scrapping appetite of shipping players is floating at lower levels than last year as it keeps pace at 16 vessel disposals per week, on average, from 18 in 2013 and 2012. It remains to be seen if the third quarter of the year will reverse the downward momentum as June ended with 22% month-on-month increase in the volume of vessel disposals”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
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- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Minerals Council of Australia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
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