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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, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
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- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- VISA Power Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
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