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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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Sunday, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
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Showing 4516 to 4520 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- PTC India Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- The University of Queensland
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
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