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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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- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
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- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
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- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
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