We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and other financing firms to invest in them and their good judgement when it comes to choosing the best available deal. As a result, 2012 bore witness to several prominent shipping entities teaming up with powerful players from the financial scene in order to back their purchasing efforts with the use of the more liquid US money markets. Intermodal's latest weekly report asked the question of "how could ship owners have generated sufficient interest towards such a highly cyclical and volatile industry during such times of uncertainty?"
According to Intermodal's Christos Mantzios, "one answer could possibly be the close to historical lows asset prices, thus reducing substantially the cost of acquiring such an asset and therefore making the entry into said market a more viable possibility from a medium-term investment perspective.
Although the market entry point for both the dry bulk and tanker assets is at relatively low levels, the “bottom of the barrel scrapping” charter rates experienced throughout 2012, as well as the poor market fundamentals for 2013 (daunting overcapacity), should have caused most of these major financial players to show a preference in the tanker market which showed more promise during 4Q2012. This revived strength in the tanker market (dirty during 3Q and clean during 4Q) was epitomised by the fresh wave of new ordering at S.Korean yards by major market players such as BP (Aframax , Suezmax), Sinokor (MR) and US-listed Scorpio Tankers (MR) towards the end of the year. But if the current state of the dry bulk market was so bad, why the increased interest in Panamax bulkers? In 2012 Panamax bulkers accounted for 26% of all dry bulk SnP deals, compared to only 19% in 2011. At the same time the majority of these involved older aged units (10-15year old) which seemed to also show the strongest drop in prices. This generated a strong appetite for Panamax tonnage, especially amongst Greek owners, pushing for en masse acquisitions of the numerous available Japanese candidates built in the 1996-2002 bracket" said Mantzios.
He added that "buyers have on their side the fact that asset prices for both Panamax bulkers and Aframax tankers are close to their historical lows. The value of a 5 year old Panamax bulker currently stands at approximately USD 17.5mill, a far cry from the USD 26-27mill required a year ago..... For a 10 year old vessel the figure is around USD 12-12.5mill and for a 15 year old its less than USD 10mill.. That is a substantial difference from Nov 2011 when the price for a 10 year old Panamax stood at USD 21mil. Of course, back in Nov 2011 such a vessel was seeing earnings in the region of USD 13,000-14,000/day compared with USD 8,000/day currently seen for 1 year TC. This may well be part of the explanation as to why prices have eroded over the past year, but it’s important to also note that the replacement cost (newbuilding price) for such a vessel back then was in the region of USD 29mill, while it now stands at around USD 25,5mill. Therefore it has started to make much more sense today to buy a 10 year old Panamax bulker then placing an new order compared to roughly a year ago where a 10 year old Panamax bulker was equal to 70% of the then price of a newbuilding (comparably this same percentage is now 46.6%)" he said.
Intermodal's analysis also indicated that "on the Aframax front the explanation could be slightly different due to the fact that a 10 year old vessel was worth USD 20,5mill and faring USD 14,000/day back in Nov 2011 and a replacement cost of USD 52,5mill, compared with a value of just under USD 17mill, TC of USD 14,000/day and newbuilding price of USD 48-49mill respectively in today's market. Thus the answer possibly lies in the supply/demand landscape which for Afras stands most favourably, with the orderbook representing 5% of the existing fleet which is by far the best ratio in not just all the tanker but also the bulker segments. But stronger buyers’ appetite might eventually be good news for owners/sellers of same tonnage, as it would help keep prices more buoyant and even allow them to strengthening again at some point" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
|
|
|
Showing 4381 to 4385 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- VISA Power Limited - India
- White Energy Company Limited
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
|
| |
| |
|
