We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem to have come early this year, though there seems to be further dis-counts to be offered in the market once the New Year kicks off. “With such corrections being noted it’s worth taking a round-up of the price trends we have seen over the past 8 months since the market started its downward spiral. In particular, it’s interesting to go through the Capes and Panamaxes which have also been the ones noting the sharp-est corrections, while reaching very interesting levels of late”.
Allied’s Head of Market Research and Asset Valuations, Mr. George Lazaridis, “since April we have seen a radical decline in prices for secondhand vessels in both these size segments. 5 and 10 year old Capes have shown a whopping 25% and 26% decline in prices during this period, reaching levels of around US$ 39.0 and US$ 27.5 million respectively. These figures become all the more noteworthy, as a newbuilding order could still set you back US$ 54.0m, meaning that you can snatch up a 5 year old vessel at 72% of the price of a new order, while a 10 year old vessel is at just under 51%”.
Lazaridis added that “things get even more enticing when you look at the Panamaxes, with prices for new or-ders set at US$ 30.0m for a Kamsarmax and US$ 29.0m for a Panamax (although the latter is hardly offered by shipbuilders any more), while prices for 5 year old Panamax-es are in the region of about US$ 20.0m and 10 year old vessels are going for around US$ 14.5m. Therefore, in the case of Panamaxes, 5 year old and 10 year old secondhand assets are currently going for a discount 39% and 50% respectively when compared to the price of a new order, while the difference becomes even bigger when compared to the cost of ordering a Kamsarmax. This has largely been due to the faster pace correction in secondhand Panamax prices during these past 8 months, as we not-ed a 29% decline in 5 year old assets and an impressive 37% decline in 10 year old as-sets”.
The shipbroker’s analyst raised the question of what does this all mean and where should buying focus be centred on next? According to Mr. Lazaridis, “the truth is at the moment and as things stand it makes more sense to go for secondhand assets when looking purely on the price being paid. There are however many out there that will say that these newbuildings are not comparable in design features to the older tonnage, while their payment terms are more favourable during the current poor per-forming freight market. That may well be beyond the underlying point though, as both asset classes are still well above where they stood in late 2012 when the market had reached its most recent bottom”.
Meanwhile, “at the same time further discounts could easily be seen in secondhand tonnage, as there is no real barrier preventing further price drops and with things becoming more difficult in terms of earnings, we are surely to see fur-ther discounts down the line. In the case of newbuildings though things are a bit tricki-er. Despite the intense competition amongst shipbuilders to secure the interest of any perspective buyers, they have barriers preventing them from offering discounts which are “too low”. The main ones are construction costs and ease of finance. With steel pric-es having declined considerably and looking to remain under pressure in the near-term, the first barrier shouldn’t be too difficult to overcome. The latter however is a bit more problematic. Shipbuilding finance has already faced significant problems during the first half of the year, and it looks as though it will be even harder for shipbuilders to assist in finance and guarantee letters for their offered ships if their margins are lack-ing. As such, it seems that we are primed for perfect conditions to promote secondhand tonnage in the New Year and with all this interest mounting, one becomes curious to see at which point the starting pistol will be fired to spark off another secondhand buy-ing spree rally”, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
|
|
|
Showing 3266 to 3270 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
|
| |
| |
|
