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