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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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Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
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- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
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- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
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- Edison Trading Spa - Italy
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- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
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- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
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- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
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- Australian Commodity Traders Exchange
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- Tata Chemicals Ltd - India
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- The University of Queensland
- Indonesian Coal Mining Association
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- Semirara Mining Corp, Philippines
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- Energy Link Ltd, New Zealand
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- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
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