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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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Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
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