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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, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
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- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Planning Commission, India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
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