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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, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
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- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
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