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.
|
|
Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
|
|
|
Showing 4386 to 4390 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
|
| |
| |
|
