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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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Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- Thai Mozambique Logistica
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
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