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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
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- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Australian Coal Association
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Posco Energy - South Korea
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
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