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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
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