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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, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
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