We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer tonnage through the second hand and newbuilding markets. But, in them doing so, forgot to demolish their older ships, especially as we approached the end of the year, when the dry bulk market rebounded strongly. Of course, in business terms, this decision more than made financial sense. But, on the other hand, if demolition activity doesn't pick up during 2014, it could hurt the long term sustainability of the industry and throw out of the window all of the estimates of a healthier market as we move forward.
In its latest report, shipbroker Intermodal noted that "from the beginning of the second half of 2013 and all the way through December, we witnessed a continuous increase of buying interest in both the newbuilding and second hand market. The said interest was in fact so intense that many times the level a deal would be concluded at, would be excessively higher from the respective market at the time. We witnessed a lot of dry units, mainly modern ones that would come up as sales candidates, attracting named interest from many European buyers, who would later request an inspection. As the length of the list of potential buyers would grow longer, the news would quickly circulate in the market, driving Sellers’ ideas to higher levels and as a result many owners came closer to considering whether that would be a good time to sell one of their units and bag the cash for future acquisitions".
According to the shipbroker's SnP broker, Mr. Panos Makrinos, "despite the fact that asset prices displayed notable increases during 2013, we also watched an increase in the number of vessels that were sold compared to 2012, which is estimated to be around 23% higher. Similarly, in the newbuilding market we witnessed an increase of orders, which in this case doubled compared to the year before, with buyers being attracted more and more by modern designs of eco specs. The fact that newbuilding prices reached two-year highs didn’t seem to deter owners from ordering, as despite any increase achieved, the matter of fact was that prices still hovered around historically low levels", he noted.
However, Makrinos cautioned that "the demolition market didn’t share the same fate. The impressive activity witnessed in 2012 didn’t repeat itself in 2013, despite the fact that the market was waiting that this would be another record year and that demolition prices did reach levels that would be considered more than enticing for owners who were thinking to scrap their vessels. The intense SnP activity that drove asset prices higher was in a big part responsible for this lack of demo candidates. As a matter of fact, we saw many ships built in the 80s, which around the end of 2012 were expected to be scrapped sooner rather than later, being sold for further trading in levels well above scrap".
In his argument, Makrinos said that "the upwards course of freight rates also played an important role to both the increase of SnP activity and the slowing down of demolition activity. As owners kept witnessing the daily return of their units increasing substantially and in many cases reaching two year highs, the positive sentiment quickly filtered through the market, bringing along not only an overall optimistic tone but also the urge for new investment in the industry, especially from private equity funds".
Concluding, he mentioned that "for most, this current year is expected to be as good as 2013 to the least. If the freight market continues its steadily improving course we would most probably watch more funds being invested in shipping even from non-traditional shipping investors. Nonetheless, the overcapacity issue is still very much present and in order for 2014 to meet expectations we will also need to see more vessels heading for scrap, so that modern and newbuilding tonnage secure employment more easily. We wouldn’t be surprised if during this year we saw an increasing number of 90s built ships heading for breaking. In the same spirit China has in fact started to “seduce” owners with substantial subsidies for those who decide to scrap their units and replace them with an eco-newbuilding that will carry the Chinese flag. Hopefully, more countries will follow similar policies that will help excessive tonnage to leave the market and a much healthier demand/supply relationship to return", Intermodal's broker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
|
|
|
Showing 3856 to 3860 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Australian Coal Association
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
|
| |
| |
|
