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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 $60mil”, said the shipbroker.
It added that “overall, S&P activity in the secondhand market for June 2014 ended at almost similar levels seen in June 2013 with stronger purchasing appetite for secondhand tankers and downward momentum in bulker and container purchases. Scrapping activity ended with a higher volume of business reported in June 2013 due to larger volume of disposals in the tanker, liner and container segment. The scrapping appetite seems that will be higher during the third quarter of the year due to the persistent downward dry bulk momentum, as the second quarter of 2014 ended with 16% increase from the volume of vessel disposals reported in the first three months of 2013″.
Meanwhile, “despite the decrease of secondhand purchases during June, the first six months of 2014 ended with 24% year-onyear increase in the average number of weekly reported S&P transactions( 31 vessels from 25 vessels in 2013), up by 27% year-on-year and up by 48%, compared with 21 vessel purchases in the first six months of 2012. In the newbuilding market, the ordering levels remain excessive at 94% higher levels than the volume of secondhand purchases and represent 46% higher levels than last year (60 new orders on average reported per week in January-June 2013) and up by 140% from 2012 levels. (25 new orders on average reported per week in January-June 2012)”.
Finally, “in the demolition market, the scrapping appetite of shipping players is floating at lower levels than last year as it keeps pace at 16 vessel disposals per week, on average, from 18 in 2013 and 2012. It remains to be seen if the third quarter of the year will reverse the downward momentum as June ended with 22% month-on-month increase in the volume of vessel disposals”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
Handy
The Atlantic Supra market has continued its improving sentiment with rates climbing and TA´s are now up about US$ 900 w-o-w, said Fea ...
Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
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- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
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