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