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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
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- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- GMR Energy Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- The University of Queensland
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
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