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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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Friday, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
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- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
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