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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, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Planning Commission, India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
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