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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
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