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, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
|
|
|
Showing 4396 to 4400 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
|
| |
| |
|
