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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, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
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