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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, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
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- Bhatia International Limited - India
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- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
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- European Bulk Services B.V. - Netherlands
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- Minerals Council of Australia
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- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bhushan Steel Limited - India
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- Straits Asia Resources Limited - Singapore
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- Posco Energy - South Korea
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- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
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- Renaissance Capital - South Africa
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- Interocean Group of Companies - India
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- Orica Australia Pty. Ltd.
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- Samtan Co., Ltd - South Korea
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- Goldman Sachs - Singapore
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- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
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- Videocon Industries ltd - India
- New Zealand Coal & Carbon
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- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
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- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
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- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
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- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
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