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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, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
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- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- The University of Queensland
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
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