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Thursday, 24 December 15
DRY BULKERS' VALUES ARE PLUNGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Dry bulk carriers’ values are falling across the board, as the fall of freight rates is taking its toll, as is to be expected. In fact, according to shipbrokers’ sources, over the course of the past couple of weeks, the drop in secondhand values has accelerated. In a recent note, Allied Shipbroking said that “despite some some resistance that had been noted in early November, a sudden appearance of several deals each noting a new low in its own right has pushed values down across the board”.
However, according to Allied’s George Lazaridis, Head of Market Research & Asset Valuations, “even at these new historical lows that are being noted in the market, buyers are still few and far between keeping a relatively sceptical stance on their option to offer. This has gotten to the extent that few are willing to offer at even lower numbers, indicating a fear that there is still room for further price drops in their mind and at the same time little in terms of market earnings to entice them to act under the current market”.
Lazaridis noted that “the main fatigue was caused by the surprising turn the freight market took within November, pushing the Baltic Dry Index to hit its lowest figure to date since its inception (although we must always stress that there is little comparison of the Index as its calculated to day with the original Baltic Index of the 1980’s). Hitting such a low point during a seasonal point in the year were we typically see better figures has made a big dent on sentiment, while many now fear of even worse conditions to be noted in the early part of 2016. As such the previous attitude by potential buyers in the market, seemingly looking to grab units and take advantage of the low asset prices has subsid-ed. It seems now that many are hoping to postpone taking action hoping to time the market at a point which benefits both on asset price as well as freight rate levels. With both these supporting a waiting stance rather than any hastily made action”.
Allied’s analyst noted that “in terms of reported deals this week, this prevailing downturn in the secondhand mar-ket has been greatly epitomised by deals such as that of the capesize “PIERRE LD” (170K dwt, blt 2005 S. Korea) which went for US$ 12.2m with her special survey and dry dock freshly passed. It is important to note that back in early November this vessel would be valued closer to US$ 18.6m, which is equivalent to a 34% drop within a couple of weeks. Similarly in the handysize segment we saw the sale of the two 2007 Japanese built vessels, namely “AMINE BULKER” and “SOFIE BULKER” both of which were reported to be sold at around US$ 6.8m in two separate deals”.
He added that “much of this is two little surprise to most who follow the market, as during the past month there had been a series of deals which would “get stuck” in the first sign of trouble. On the one had we still have ample supply of sale candidates circulating the market, but the main issue seems to be the approach taken by buyers. With fear pre-vailing in the market, it doesn’t take much to spook a potential buyer and push him to find a way to withdraw any offers he might have made. No-one can blame them of either choice, though it hardly seems as though there is much to lose at these price levels, especially when buying a modern vessel that could easily be considered as having at least 15 years of trading life left in it. As such it looks to be more about getting the “right deal” in place rather fear of a potentially high risk of loss at these levels”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
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- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
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