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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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Friday, 30 November 12
IS INDONESIAN COAL INDUSTRY DEPENDS HEAVILY ON INDIA AND CHINA?
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 35,143,587* tons of coal in October 2012. October exports are 19 ...
Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
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- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Star Paper Mills Limited - India
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