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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, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
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