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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, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
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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- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Australian Coal Association
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
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