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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, 16 December 15
MARKET INSIGHT - KATERINA RESTIS
On Friday 4th of December the meeting of OPEC was held in Vienna, Austria. Since its last meeting, oil and product stock levels have continued to r ...
Tuesday, 15 December 15
THE GOVERNMENT DECLARED THERMAL COAL BENCHMARK PRICE CRASHING ONCE AGAIN
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price down to below 2009 level. HBA has slumped by 1.69% mo ...
Tuesday, 15 December 15
API 5 FOB NEWCASTLE COAL SWAP FIRM W-W; WEAK M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $.13 per ton (0.35%) month over month to US$ 37.07 per ton. The swap w ...
Monday, 14 December 15
5000 GAR CS (I) COAL INDEX DECLINE US$ 0.04 PER TON W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.04 per ton (-0.10 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 14 December 15
CFR SOUTH CHINA COAL SWAP IS STILL SLIDING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 0.93(2.18%) per ton month over month.
A commodity swap ...
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- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- PTC India Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- White Energy Company Limited
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
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