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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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Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
Monday, 04 November 13
API 8 CFR S.CHINA COAL SWAP FOR Q3' 2014 DELIVERY CLOSED 3.65% HIGHER COMPARED TO Q1' 2014 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.24 percept W-W on Friday 1 November 2013. The CFR South China Co ...
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Showing 4026 to 4030 news of total 6871 |
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- Goldman Sachs - Singapore
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- White Energy Company Limited
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
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