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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
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- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
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