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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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Wednesday, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
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