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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, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
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