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Wednesday, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting fewer deals. In its latest weekly report and final of the year, Allied Shipbroking noted that “with the Christmas festivities taking full hold of the market, things went completely silent, while both shipbuilders and perspective buyers postpone any new dealings for after the New Year”.
According to Allied, “2015 has turned out to be one of the most difficult years on record for the ship building industry, with an excessively low amount of new orders having gone through, while at the same time financial difficulties and strong levels of contract cancellations have taken a bite from the existing orderbook. The challenges that shipbuilders will face in the New Year will likely get worse, while it looks as though we are reaching close to crunch time, seeing which shipbuilders will be able to sustain and remain on top during these lean times and which will have to fold. The first half of 2016 will be one of the most crucial periods to see this unfold as the worsening conditions in the dry bulk freight market and consequently the drop in secondhand asset prices will determine to what extent shipbuilders will be able to maintain both their cash flow and orderbook at healthy levels”.
Meanwhile, on the S&P market, “on the dry bulk side, activity was a touch softer though there was still a good number of deals reported, especially in the panamax sector. Prices seen are still on the low end pointing to further softening from the levels that were being noted a month back. This is also the primary mover in providing buyers with appetite to pick up units despite the poor freight rate performance. While with further price drops now expected, interest will likely move more towards the more modern units which provide better asset play possibilities.
On the tanker side, with the Christmas holidays now only a breath away, activity quietened down considerably with only two vessels reported this week and those in the small tanker categories. It is likely that we won’t see too much action over the coming weeks, with both sellers and buyers easing off, as they show little appetite to make any hasty moves”, said Allied.
Finally, in the demolition market, “with many owners now looking to postpone any demo activity until after the New Year and at the same time shipbreakers having eased off their appetite, things have gone fairly quiet. This has always been a fairly quiet period in the year, however with the excess uncertainty and large market swings noted over the past year, it has given extra reason for most to avoid any hasty decisions especially now during the Christmas and New Year holidays which make operational procedures for delivery and payment of a demo sale that much more difficult. In terms of demo prices things seem to still be holding stable for now, but fear for the 2016, is that we will see things get considerably more difficult, especially as expectations are for a strong number of vessels being sent for scrap irrespective of the price level of scrap. The poor market conditions in the dry bulk market will be the main market dampener, while the limited amount of active end buyers with access to finance and LOCs is surely to keep things in the favor of those few buyers”, Allied Shipbroking 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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- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
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- PTC India Limited - India
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- Singapore Mercantile Exchange
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- Directorate Of Revenue Intelligence - India
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- Economic Council, Georgia
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- Parliament of New Zealand
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