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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
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- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
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