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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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- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
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