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, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
|
|
|
Showing 4421 to 4425 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- The University of Queensland
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- PTC India Limited - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
|
| |
| |
|
