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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, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
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Showing 4086 to 4090 news of total 6871 |
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- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
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