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Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem to have come early this year, though there seems to be further dis-counts to be offered in the market once the New Year kicks off. “With such corrections being noted it’s worth taking a round-up of the price trends we have seen over the past 8 months since the market started its downward spiral. In particular, it’s interesting to go through the Capes and Panamaxes which have also been the ones noting the sharp-est corrections, while reaching very interesting levels of late”.
Allied’s Head of Market Research and Asset Valuations, Mr. George Lazaridis, “since April we have seen a radical decline in prices for secondhand vessels in both these size segments. 5 and 10 year old Capes have shown a whopping 25% and 26% decline in prices during this period, reaching levels of around US$ 39.0 and US$ 27.5 million respectively. These figures become all the more noteworthy, as a newbuilding order could still set you back US$ 54.0m, meaning that you can snatch up a 5 year old vessel at 72% of the price of a new order, while a 10 year old vessel is at just under 51%”.
Lazaridis added that “things get even more enticing when you look at the Panamaxes, with prices for new or-ders set at US$ 30.0m for a Kamsarmax and US$ 29.0m for a Panamax (although the latter is hardly offered by shipbuilders any more), while prices for 5 year old Panamax-es are in the region of about US$ 20.0m and 10 year old vessels are going for around US$ 14.5m. Therefore, in the case of Panamaxes, 5 year old and 10 year old secondhand assets are currently going for a discount 39% and 50% respectively when compared to the price of a new order, while the difference becomes even bigger when compared to the cost of ordering a Kamsarmax. This has largely been due to the faster pace correction in secondhand Panamax prices during these past 8 months, as we not-ed a 29% decline in 5 year old assets and an impressive 37% decline in 10 year old as-sets”.
The shipbroker’s analyst raised the question of what does this all mean and where should buying focus be centred on next? According to Mr. Lazaridis, “the truth is at the moment and as things stand it makes more sense to go for secondhand assets when looking purely on the price being paid. There are however many out there that will say that these newbuildings are not comparable in design features to the older tonnage, while their payment terms are more favourable during the current poor per-forming freight market. That may well be beyond the underlying point though, as both asset classes are still well above where they stood in late 2012 when the market had reached its most recent bottom”.
Meanwhile, “at the same time further discounts could easily be seen in secondhand tonnage, as there is no real barrier preventing further price drops and with things becoming more difficult in terms of earnings, we are surely to see fur-ther discounts down the line. In the case of newbuildings though things are a bit tricki-er. Despite the intense competition amongst shipbuilders to secure the interest of any perspective buyers, they have barriers preventing them from offering discounts which are “too low”. The main ones are construction costs and ease of finance. With steel pric-es having declined considerably and looking to remain under pressure in the near-term, the first barrier shouldn’t be too difficult to overcome. The latter however is a bit more problematic. Shipbuilding finance has already faced significant problems during the first half of the year, and it looks as though it will be even harder for shipbuilders to assist in finance and guarantee letters for their offered ships if their margins are lack-ing. As such, it seems that we are primed for perfect conditions to promote secondhand tonnage in the New Year and with all this interest mounting, one becomes curious to see at which point the starting pistol will be fired to spark off another secondhand buy-ing spree rally”, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
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- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Petron Corporation, Philippines
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