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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, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
Tuesday, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
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- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
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