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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 $60mil”, said the shipbroker.
It added that “overall, S&P activity in the secondhand market for June 2014 ended at almost similar levels seen in June 2013 with stronger purchasing appetite for secondhand tankers and downward momentum in bulker and container purchases. Scrapping activity ended with a higher volume of business reported in June 2013 due to larger volume of disposals in the tanker, liner and container segment. The scrapping appetite seems that will be higher during the third quarter of the year due to the persistent downward dry bulk momentum, as the second quarter of 2014 ended with 16% increase from the volume of vessel disposals reported in the first three months of 2013″.
Meanwhile, “despite the decrease of secondhand purchases during June, the first six months of 2014 ended with 24% year-onyear increase in the average number of weekly reported S&P transactions( 31 vessels from 25 vessels in 2013), up by 27% year-on-year and up by 48%, compared with 21 vessel purchases in the first six months of 2012. In the newbuilding market, the ordering levels remain excessive at 94% higher levels than the volume of secondhand purchases and represent 46% higher levels than last year (60 new orders on average reported per week in January-June 2013) and up by 140% from 2012 levels. (25 new orders on average reported per week in January-June 2012)”.
Finally, “in the demolition market, the scrapping appetite of shipping players is floating at lower levels than last year as it keeps pace at 16 vessel disposals per week, on average, from 18 in 2013 and 2012. It remains to be seen if the third quarter of the year will reverse the downward momentum as June ended with 22% month-on-month increase in the volume of vessel disposals”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Monday, 28 July 14
Q3' 14, SUB-BIT FOB INDONESIA COAL SWAP GAINED $ 0.08 DAY ON DAY AND $ 0.68 WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 increased by just US$ 0.08 day on day and US$ 0.68 week on week. The swap was lost U ...
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- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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