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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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Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
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- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
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