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.
|
|
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
|
|
|
Showing 4466 to 4470 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
|
| |
| |
|
