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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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- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
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- Australian Commodity Traders Exchange
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- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
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