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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, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
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 ...
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- Xindia Steels Limited - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
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