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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, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
Monday, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
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- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- VISA Power Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
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