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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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Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- PTC India Limited - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- MS Steel International - UAE
- Planning Commission, India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
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