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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
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- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
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