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.
|
|
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
Monday, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
|
|
|
Showing 3881 to 3885 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
|
| |
| |
|
