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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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Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
Saturday, 18 August 12
BULK FREIGHT MARKETS CONTINUED THEIR DECLINE IN LINE WITH WEAK DEMAND - VISTAAR
COALspot.com - This week also the indices fell on all segments with BDI touching lowest in almost 3 years.
The BDI closed at 714 points down by 7 ...
Thursday, 16 August 12
PUBLIC PRIVATE PARTNERSHIPS CONFERENCE 2012
Press Release - Asia’s Premier Public Private Partnerships Conference 2012 will showcase commercial opportunities for investors and developers ...
Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME
COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal mark ...
Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES
COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.
...
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- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
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