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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, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
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Showing 4536 to 4540 news of total 6871 |
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- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
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