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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
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- Posco Energy - South Korea
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
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