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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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Thursday, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
Wednesday, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
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- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
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