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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
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