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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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Sunday, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
COALspot.com: The low vessel demand across nearly all vessel sizes pushed the Baltic Exchange’s main sea freight index further down in this F ...
Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance ...
Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
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- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
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