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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.
The truth is that from the very start of the year we had good omens pointing to a change in conditions. The start of all this seemed to have been initially brought about by the increased activity that was triggered early on in the year by the continuous drop in value of the Japanese Yen, and more directly by the change in investor perception regarding the level that second-hand and new building prices had reached. This increased activity in the dry bulk market started to gradually build up and in turn creating more buying interest and pushing prices upwards.
With all this we have managed to see a stellar year in terms of activity, with second-hand sale and purchase activity reaching over 1,500 in number which is considerable improvement compared to the 1,223 that took place in 2012 and the 1,154 in 2011. From this total for 2013, around a quarter were made by Greek buyers, followed by the Chinese which had less than a third of what Greek buyers managed. What makes this even more extraordinary is that these Greek purchases were made in the backdrop of a troubled ship financing sector especially when it comes to Greek banks which faced complete restructuring half way through the year, leaving them with limited resources for use to further support second-hand purchases. One of the biggest transitions in this regard has been the extent to which we have seen private equity funds turning their attention towards shipping and stepping up to fill part of the financing void that has been created these past couple of years.
There was also a similar development in the new building market, where despite the limited activity of new orders made during 2012, the past 12 months we have seen a dramatic turn around with most shipbuilders’ order books filling up until early 2016 delivery. The total number of new orders reached over 2,000 units for the main four ship types (i.e Dry Bulkers, Tankers, Containers and Gas Carriers), which is a considerable increase compared to the respective 881 noted in 2012. In terms of which shipbuilding nation took the leading role, this year was the chance for Chinese shipbuilders to retake the reigns and receive almost 40% of all the new orders placed. In comparison S. Korean and Japanese shipbuilders both received around 16% each of all the new orders placed. In respect to buyers, Greek and Japanese owners were closely tied first place in terms of volume of new orders made, although Greeks overall made orders for larger vessels. Taking into consideration what we had seen throughout 2013, it looks as though there is much to look forward to for the next 12 months. The market players look to be considerably more optimistic than a year back and with limited new deliveries scheduled for this year when compared to previous years, it looks that there is a possibility that the balance between supply and demand may well be even better this year. With much of the worst now seeming to be well behind us it is a matter of how owners will find new and novel ways to fund the opportunities that they find and if they prove to be profitable ventures will that eventually change the perception amongst traditional ship financing banks allowing them to renter the scene and pull the market into even better prospects.
by George Lazaridis
Research Analyst
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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Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
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 ...
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- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Planning Commission, India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
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