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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, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
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- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
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