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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, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Bhatia International Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
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