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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Grasim Industreis Ltd - India
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