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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, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
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 ...
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- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- PTC India Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
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