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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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Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
Thursday, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whe ...
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- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
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