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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
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