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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
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- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Planning Commission, India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
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