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Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
 In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends and some very interesting points and findings that stood out which I would like to share with you. In the first half of 2013 the Dry Cargo freight markets, found Capes earning much less than all other dry bulk size segments. This was rectified after June and today the rates are currently more or less back in line with the respective carrying capacity and we hope that the momentum will feed through to 2014.
On the SnP front, activity was superb. We had more than 1,500 deals concluded so far in the year. The total USD outlay, from sales of which details are disclosed, is slightly more than $ 21bn. The respective figures for 2012 are 1,200 deals and $14bn outlay. Compared to 2012, S&P activity on average was up by 26-27% on just about every month. Dry Bulk vessels prices have increased significantly over the past 12 months. The most notable increase was noted in a 5 yr old Panamax that has shot up by more than 50%. Last year, you could buy a 5 yr old Panamax with $ 17-18m. Today with the same money you are just about purchasing a 10 yr old Panamax!!! Rising price didn’t deter investors from acquiring vessels. To the contrary we can say. The fact that conventional financing was practically scarce meant that a very important chunk of SnP deals was mostly financed by “own pockets” and/or alternative sources of finance.
Additionally, trust in the banking system was shaken this year. The fearful and sad scenario of thousands realizing that their bank deposits could suffer a tremendous haircut over-a-weekend, as it happened in Cyprus, made many shipowners and others turn into a what appeared as a much safer investment ; Shipping.
On the Newbuilding sector, we had many new orders, with more than 870 bulkers, 527 Tankers, 161 Gas Carriers and 243 Containers being contracted during this year so far. The majority of these contracts have gone to Chinese builders, whose share of orders this year amounts to more than Korea’s and Japan’s shares added up together. Non-availability of slots has taken off a lot of pressure from major shipbuilders to further reduce their prices and from a point onwards they actually started to charge a premium for earlier slots. However, if we still look back, current newbuilding prices are still on the low side.
Demolition stats show that more than 50m tons of DWT carrying capacity was taken from the world active fleet, compared to more than 60m tons in 2012. Nevertheless, last year was a record year and therefore difficult to match, therefore the fact that this year’s figure stands at these levels is still very significant. India appears to have been the leading demo country in both number of ships and dwt scrapped there, while China comes second in number of ships and 3rd in dwt. Demo prices hold firm, with the average since 2009 standing above $400 per ldt, always supported by the strong demand for steel. It goes without saying that the increased demolition activity we have seen over the past 4 years, tremendously helps alleviate the pressure of new tonnage entering the active fleet.
In general, we consider 2013 to be a year of momentum, with a lot of investment opportunities being “grabbed” by a number of players in the market. We are of the strong belief and share the opinion of many shipping professionals that, as far as this cycle is concerned, “we have seen the worst… !”
Happy New Year to All, full of health, joy, happiness and successful shipping deals!
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
Wednesday, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
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- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Australian Coal Association
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
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