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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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Thursday, 31 December 15
2016 FOB NEWCASTLE COAL SWAP RALLY TO CLOSE AT $37.98/TON
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.48 per ton (4.05%) this past week compared to the sam ...
Wednesday, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
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- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
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