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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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