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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, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
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- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Planning Commission, India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
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