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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, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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