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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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Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
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- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
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