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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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Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
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- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
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