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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, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
Monday, 29 October 12
US COAL EXPORTS ARE EXPECTED TO REACH 125 MILLION TONS THIS YEAR - EIA
COALspot.com - US coal exports are expected to reach 125 million tons this year, surpassing the old record of about 113 million tons set in 1981, sa ...
Sunday, 28 October 12
SUB-BIT INDONESIA COAL SWAPS (FOB ) FOR DECEMBER 2012 DELIVERY STAYED FLAT D-D
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery flat on D-D but gained 0.38 percent on W-W on Friday, 26 October 2012, ...
Sunday, 28 October 12
INDONESIA TO INDIA SUPRAMAX FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - The Cape size sector continued to remain active with iron ore movement being steady. All other sectors were down.
The BDI was up b ...
Friday, 26 October 12
SHIPPING MARKETS HEADING FOR DIVISION AND MULTI-TIER WILL BECOME THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It seems that something is expected to be fundamentally different in the way that the shipping markets will be operating in the future, according to ...
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- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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