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.
|
|
Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
|
|
|
Showing 4406 to 4410 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
|
| |
| |
|
