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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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Showing 4486 to 4490 news of total 6871 |
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- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Parliament of New Zealand
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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