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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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Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Australian Coal Association
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
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