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