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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 sought to take advantage of low prices, while those were still valid. In its latest weekly report, shipbroker Intermodal, noted that so far in 2013, there've been more than 1,500 deals concluded for an investment volume (from sales of which financial details were disclosed) which is over $21 billion. According to Intermodal's analysis, "the respective figures for 2012 were 1,200 deals and $14bn outlay. Compared with 2012, S&P activity on average was up by 26-27% on just about every month.
Intermodal's SnP broker, Mr. John N. Cotzias noted that dry bulk vessel prices " prices have increased significantly over the past 12 months. The most notable increase was noted in a five year old Panamax that has shot up by more than 50%. Last year, you could buy a five year 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", he noted.
Meanwhile, another factor which boosted vessel acquisitions was the fact that 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", Cotzias mentioned.
In 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.
Finally, in the ever so crucial demolition segment, statistics 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 $400 per ldt, always supported by the strong demand for steel. It goes without saying that the increased demolition activity we have seen over the past 4 years, tremendously helps alleviate the pressure of new tonnage entering the active fleet.
In general, we consider 2013 to be a year of momentum, with a lot of investment opportunities being “grabbed” by a number of players in the market. We are of the strong belief and share the opinion of many shipping professionals that, as far as this cycle is concerned, “we have seen the worst… !”, Intermodal's report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
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Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
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- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Australian Coal Association
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
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