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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 $88,5million" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- VISA Power Limited - India
- Thiess Contractors Indonesia
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