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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
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Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
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