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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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