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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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Friday, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
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- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
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