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