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