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