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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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- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- MS Steel International - UAE
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
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