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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 Intermodal in a recent report. After all, the question on everyone’s lips these days appears to revolve around the timing of their investment on the market, as well as which type, size and age of vessel to buy. In the report, Intermodal noted that “we can look at the available historic data, and indicators to plan our strategy accordingly. We take the view that the investment should have adequate remaining life ahead to give its owners the required return. As far as the timing of the investment is concerned, one indicator is the forward ship supply at any given time, which is simply defined as the current fleet plus the orderbook at a specific point in time” said the report.
It added that in the Handysize sector, “the forward ship supply as of July 1st 2012 is less than what it was one year earlier by more than 50 vessels. Combined with the fact that 45% of the fleet is over 15 years old we believe that the supply in this segment has started shrinking and modern vessels or new buildings of this size may be more attractive than other sizes. Looking at the supramax size, we see that while the actual fleet grew by more than 300 vessels the past year the forward supply grew only by 50 vessels showing that the fleet is close to peaking and will soon start shrinking too.
In the panamax size, the existing fleet grew by 170 vessels the past year and the forward supply grew by around 80 vessels, confirming the fact that the panamax/kamsarmax supply has not peaked and the 650 vessels that are still on order will have a significant impact on the market. In the capesize segment we also have seen the forward supply contracting due to the depressed market leading to strong demolition activity” said Intermodal. It concluded its argument by asking the important question: “As we come out from the oversupply quicksand, the question is 'will the demand be there at the exit?”
In any case, prices are far lower than in 2008, prompting ship owners to examine their options. In a recent report, Golden Destiny noted that 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.
The shipbroker 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 concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 06 November 12
NOVEMBER 2012 HBA $35.21 LOWER THAN A YEAR AGO
COALspot.com - The Indonesian government’s declared coal reference price for November’ 12 has lost US$ 4.60 per MT M-o-M.
...
Sunday, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
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- Orica Mining Services - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
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