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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
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Monday, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- VISA Power Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
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