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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
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- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- PTC India Limited - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Posco Energy - South Korea
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
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