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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, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
Sunday, 25 November 12
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO BE FIRM - VISTAAR
COALspot.com - The freight market was buoyant this week with all sectors up except for the Cape size index. The BDI was up by 5.21 pct closing at 10 ...
Sunday, 25 November 12
INDONESIAN SUB BITUMINOUS COAL SWAP CONTRACTS SLIDE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for February 2013 delivery lost 0.76percent WoW but gained 0.16 percent DoD on Friday ...
Saturday, 24 November 12
DELTA DUNIA MAKMUR PRODUCES 3.2 MILLION TONS OF COAL IN OCTOBER
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 31.1 million bcm* (-4.0% YoY) of Overburden in October 2012 totaled while coal production was ...
Thursday, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
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- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
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