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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, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
Monday, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
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- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
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