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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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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
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