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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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Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
Thursday, 07 January 16
FOB NEWCASTLE COAL SWAPS DELIVERY Q1'16 REMAIN FLAT W-O-W; UP M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.23 per ton (3.35%) this past week compared to the sam ...
Thursday, 07 January 16
SHIPPING WILL REMAIN VOLATILE AND INDISPENSABLE IN 2016 - MOORE STEPHENS
The ultimate definition of an optimist has been characterised as an accordion player with an answerphone. Such extreme optimism might be difficult ...
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December ...
Tuesday, 05 January 16
BIG COAL MINERS PLAN HIGHER PRODUCTION THIS YEAR - THE JAKARTA POST
The country’s major coal miners plan to further boost production in 2016 although analysts estimate that an oversupply in the world’s c ...
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Showing 2621 to 2625 news of total 6871 |
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- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
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