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Friday, 23 November 12
CHOOSING THE RIGHT TIME TO INVEST IN NEW VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Shipping is all about timing, a process often rising to the height of artform, as ship owners are having to pick the exact moment of selling most of their fleet and investing a new one, i.e. selling high and buying low. As the current market conditions favor the buying part of the market, with asset values on a downward path during the past few years, it's not easy to pick the right time, since next week a vessel with similar specifications to the one purchased, may have lost an additonal few thousand dollars off its value and in shipping even those matter.
As a result, it is very difficult to predict with full accuracy the proper timing, not to mention estimate where vessel values will have moved during the next couple of months. According to the latest weekly report from Piraeus-based Intermodal, despite the fact that most market pundits continually voice that second-hand and newbuilding prices have the potential to fall by as much as 20-30% in the next few months, there are always "Black Swan" events which catch everyone by surprise.
In his analysis, Intermodal's Panos Makrinos notes that "taking the case however that asset prices may drop further, it makes fair reason for any prospective buyer who currently has serious interest in buying new vessels, to wait for some time before taking any decisive action. All that being said, such a decision may well be within minimal risk of an upward swing in asset prices but always entailing some".
He added that "according to current market anticipation, the right time to buy a second-hand vessel or a newbuilding will be some point in the first half of 2013. The expectation is that prices will more accurately reflect the current low freight levels experienced as well as the lack of serious buying interest. The question that arises here is whether this common thinking is indeed reasonable and able in itself to persuade all these prospective Buyers to wait despite the discounted prices offered. In essence, their choice to wait means that they would forgo any potential gains that could be succeeded from acquiring modern second hand or newbuilding vessels at current levels. The question is to what extent should owners be chasing the market bottom, especially in the case were they are planning to make more than one vessel acquisition" he noted.
Makrinos also mentions that "in the case of new orders we can see a further case for owners to take on this decisive action, since we all appreciate that what both the dry and wet sectors need right now is ever stronger demolition activity in order to counterbalance all the new deliveries that we have seen in 2012 so far. As mentioned in our weekly report at the end of last month, in the dry sector alone we have seen more than 1,000 dry bulk carriers delivered since the start of the year with over 85 million tons of deadweight capacity and there is still time to go before the end of the year. This may well have been offset by the record number of demolitions seen, however we it has not been all smooth sailing in the scrap market. Demo prices have recently been under pressure and with a lack of clear market direction it looks as though they could possible soften further by the end of the year if we continue to see the current strong supply of demo tonnage in combination with weak steel demand.
What one might voice, is whether all this should truly influence one’s decision for further ordering. A new vessel is always treated better amongst charterers than an old one, while at the same time you would not expect to miss out on any “Party” while waiting for delivery. The argument as to whether one should order a new building or buy a secondhand unit will continue on for some time, however what is imperative and would be seen as an encouraging sign, is a more active stance towards demolition, especially while the current scrap steel prices still hold their ground. After all no-one knows what the New Year may have in stall for the shipping industry and it may well be better to be with cash at hand" the analyst concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
Tuesday, 04 December 12
NEWCASTLE PORT SHIPPED 55.88 PERCENT MORE COAL W/E 3 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,796,341 MT of thermal and coking coal for week ended 0700 hours 3 December 2012, Newca ...
Sunday, 02 December 12
YEAR 2013, YEAR OF SUPPLY OR DEMAND?
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1 2013 delivery gained 2.87 & 0.83 percent MoM and WoW respectively ...
Saturday, 01 December 12
TIGHT SUPPLY, DEMAND PUSH INDO-INDIA SUPRAMAX FREIGHT RATES HIGHER - VISTAAR
COALspot.com - The freight market was mixed this week as cape and Panamax indices are closing softer.
The BDI was down 0.37 pct closing at 1,086 ...
Friday, 30 November 12
FUTURE TREND OF SECOND HAND SHIP VALUES PUZZLING SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the major challenges that ship owners are facing today is whether or not to invest in a second hand vessel at any given time. For instance, i ...
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- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
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