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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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Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
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- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
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