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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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Tuesday, 22 July 14
ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release: Registration Open for Fourth Annual Asian Sub-Bituminous Coal Users’ Group Conference
Register today for this year&r ...
Monday, 21 July 14
25% OF INDIA'S POWER PLANTS WERE HAVING SUPER CRITICAL COAL STOCK - COAL AND POWER MINISTER
25% of India’s power plants were having super critical coal stock; power utilities have also been advised to enhance the import of coal - Coa ...
Monday, 21 July 14
INDONESIA'S STATE CONTROLLED COAL MINER BUKIT ASAM ENJOYED HIGHER SELLING PRICE DURING THIS STORMY MARKET
COALspot.com: PT Bukit Asam, the Indonesian government controlled coal miner announced today that, the company has produced 7.70 million tons of co ...
Monday, 21 July 14
CFR SOUTH CHINA COAL Q3 DELIVERY SWAPS LOST 16% SINCE JANUARY 17, 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. Market is not showing any positive trend in near future.
...
Sunday, 20 July 14
THE FREIGHT MARKET CONTINUED ITS DOWNWARD TREND
COALspot.com: The market continued its downward trend this week as all segments were down compared to last week. The Cape and Panamax indices being ...
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- Bangladesh Power Developement Board
- Australian Coal Association
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
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