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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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Showing 4651 to 4655 news of total 6871 |
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- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Planning Commission, India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
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