We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of June 2008 was more than $153 million. This comes to show how much ship prices have fallen in the past few years, which favors new investors in the business. On the other hand, it has caused major headaches among existing ship owners, especially those who invested at the end of the growth cycle, i.e. during the 2007-2008 period. They are now facing huge problems, as they have to provide added collaterals on bank who financed the purchase of those vessels. It's also one of the reasons that banks are reluctant to lend again to the shipping industry, which has been deemed as a risky one, as a result of these past "extravagance" of prices. This has caused some banks to become ship owners these days.
In its latest biannual report, Piraeus-based Golden Destiny noted that second hand vessel prices have plunged during the first half of 2012, mainly in the large sized segments, i.e. the Capesize and the Panamax one. In the panamax market, data from the Baltic Exchange shows that a 5 year old vessel of 52,000 dwt is now worth about $22 million, from $27.5 million at the end of June of 2011, while at the end of June of 2008, the cost for the same ship was more than $75 million.
The report also noted that "in the newbuilding market, similar sharp declines in prices offered by major yards are viewed with investors being more conservative in the placement of new contracts as the instability of the freight market and the challenge of oversupply with upcoming deliveries are creating uncertainty for strong newbuilding investments. A capesize unit of 186,300 dwt reported on order in February this year at Shanghai Waigaoqiao of China for a price in the region of $49,8mil, while at the end of May 2008, a capesize unit of 176,000 dwt had been reported on order at Chinese yard, Zhoushan Jinhawaian for a price about $88,5million" it noted.
This is one of the main reasons why ship owners have invested a fair amount of money in second hand vessel purchases during the first six months of the year, with a total of $6.1 billion for 555 vessels, despite the fall in freight rates. According to the report, second quarter buys were up 24% since the first quarter, while in total the first half of 2012 showed a decline of 9% compared to the same period of 2011, which is a remarkable feat, when considering the global economy uncertainty, the oversupply of tonnage in dry bulk and most other shipping markets and the lack of financing especially in Western Europe.
According to Golden Destiny, dry bulk carriers and tankers accounted for 33% and 26% of the total investment, while containers and liners follow with a 14% and 11% share respectively of the total S&P activity. The bulk carrier, gas tanker and container segments have shown a sharp revival in the volume of vessels reported to have changed hands from the previous quarter with a 31%, 44% and 39% increase respectively. The total amount of money invested for secondhand units this year is lower than the first half of 2011, 43% down, when 610 vessels had been reported to have changed hands at more than $10.7bn, with 103 sale and purchase transactions at an undisclosed sale price. The bulk carrier segment has shown a 31% increase with a total 105 vessels reported to have changed hands during April-June 2012 from 80 vessels in the first three months of the year, while a total of 185 vessels reported sold during the first half of the year at a total invested capital of more than $2.5bn, 11 sale and purchase transactions reported at an undisclosed contract price. “Amid the severe freight market status with capesizes struggling to cover their operating expenses and BDI crawling to remain above 1,000 points, investors haven’t lost their buying appetite by slowing their secondhand purchases only 6% down from the first half of 2011, when 196 bulk carriers changed hands at a total invested capital of more than $3.4billlion. The bulk carrier segment is the segment that posed the least downfall among other vessel categories in the purchase of secondhand units compared with the first half of 2011.
Sources: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
|
|
|
Showing 4641 to 4645 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- The University of Queensland
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
|
| |
| |
|
