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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, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
Friday, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
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- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
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