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Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly report from shipbroker Intermodal, "if 2011 was a year of aggression with the majority of the shipping world treating it as a short slow down before the next bonanza, 2012 was a major slap in the face and a party killer making most people (there is a reason that I say most) realize the rates are on a downhill with no breaks. 3 words in 2012 in my humble opinion were the most popular in the shipping world. “Distressed,” “ECO” and “Finance”, wrote Intermoda's analyst, Mr. Timos Papadimitriou.
He noted that "starting with “Distressed,” the market has been looking for the so called “fire sales” of modern assets since 2010 to no avail, at least not to the extent many would like. But why is that? Charterers have being defaulting, owners have being defaulting, and many yards are for sure to default. But the really low prices have yet to be witnessed. We have started to slowly but surely see assets being marketed cheap in the container sector, but these 90’s units are hardly of interest any more. Will dry bulkers and tankers provide similar opportunities for modern distressed assets? It’s doubtful. Units built after 2007 had been contracted at much higher levels compared to today’s NB prices and keep in mind that the finance that these vessels operate on, is unlikely to have been completely repaid yet. As such, the banks will be reluctant to sacrifice these vessels to the market just yet. It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.” Time will tell" he stressed.
Intermodal's analyst went on to explain what 2012 meant in terms of the crowd favorite word of "Eco". He mentioned that "ECO tankers, ECO Bulkers, ECO containers and so on. There so many different opinions, predictions and questions. Will the new vessels render the older ones obsolete? Will the ECOs see the anticipated premiums? How will they perform under bad weather? Can the older vessels be cheaply retrofitted to run as efficiently? And what if oil prices drop? The last question cracks me up every time! In my very humble opinion it will come down to the owner/operator. Undeniably, what’s more important than the vessel itself, is to know how to manage/operate a vessel. It’s “back to basics,” and the charterers are well aware of that. Yes the ECO vessels will attract curiosity but their value might not only be in the FOC they boast but also in other features they will be fitted with that will allow them to comply with new regulations and laws. Again time will tell" he said.
Finally he stated that "last but not least we have reached our final point, “Finance.” These days finance resembles “Nessie” the Loch Ness Monster. There is something out there but what exactly is it? that we don’t know yet. European banks are silent or playing dead (emphasis on “playing”) making the credit thirsty parties look to China for Nessie but with no consistency in the sightings. Truth to be told, there is some finance from China as well as other sources like the recently reported Bumi deal which was backed up by Indian money. So finance might not be easily found or even acquired, but taking the right steps and most importantly having a healthy financial past will lead you to the end of the rainbow. Once again time will tell" Papadimitriou said.
He concluded his argument by noting that "the shipping market has always been a steady supplier of surprises and curve balls. When all things point to one direction, something has always happened that defied all odds and changed the market’s course. Yes there are still A LOT of bulk carriers to be delivered, yes the global economic environment does not favor end products that are shipped with containers and yes the tanker market is struggling to find its footing but maybe the New Year will lead to new opportunities emerging. Time will indeed tell".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
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