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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 $60mil”, said the shipbroker.
It added that “overall, S&P activity in the secondhand market for June 2014 ended at almost similar levels seen in June 2013 with stronger purchasing appetite for secondhand tankers and downward momentum in bulker and container purchases. Scrapping activity ended with a higher volume of business reported in June 2013 due to larger volume of disposals in the tanker, liner and container segment. The scrapping appetite seems that will be higher during the third quarter of the year due to the persistent downward dry bulk momentum, as the second quarter of 2014 ended with 16% increase from the volume of vessel disposals reported in the first three months of 2013″.
Meanwhile, “despite the decrease of secondhand purchases during June, the first six months of 2014 ended with 24% year-onyear increase in the average number of weekly reported S&P transactions( 31 vessels from 25 vessels in 2013), up by 27% year-on-year and up by 48%, compared with 21 vessel purchases in the first six months of 2012. In the newbuilding market, the ordering levels remain excessive at 94% higher levels than the volume of secondhand purchases and represent 46% higher levels than last year (60 new orders on average reported per week in January-June 2013) and up by 140% from 2012 levels. (25 new orders on average reported per week in January-June 2012)”.
Finally, “in the demolition market, the scrapping appetite of shipping players is floating at lower levels than last year as it keeps pace at 16 vessel disposals per week, on average, from 18 in 2013 and 2012. It remains to be seen if the third quarter of the year will reverse the downward momentum as June ended with 22% month-on-month increase in the volume of vessel disposals”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
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- CNBM International Corporation - China
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
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