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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, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
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- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Posco Energy - South Korea
- Eastern Coal Council - USA
- The University of Queensland
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
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