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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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Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
Thursday, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
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- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
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