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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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