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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, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
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- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
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