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