We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, most ship owners are finding themselves caught “between a rock and hard place”. But is it really this the case? Some shipbrokers believe that the current market environment has also one important side effect, the fall of asset prices, which means that dry bulk ships are getting cheaper by the day. As such, cash-rich ship owners could easily take advantage of knock down prices, especially as more and more distressed sales could emerge in the coming weeks.
According to the latest report from shipbroker Allied Shipbroking, “while dry bulk owners start to feel that they have managed to get out of one bad patch, everyone starts to point at yet another up ahead. It seems to be a perfect storm unfolding and one that many will claim was more than expected. Yet amidst poor sentiment in the freight market is were real opportunity is born. The market will eventually recovery and those who manage to take the right pickings during the bottom are often herald as the pioneers and holders of true foresight of what lays ahead. However it is never as clear as that. Taking on any investment decision, as things stand now, seems to be bor-derline crazy. Earnings are hovering at around OPEX levels, often with owners search-ing into their own pockets in order to cover the cost of voyages they have fixed”, said Mr. George Lazaridis, Head of Market Research & Asset Valuations.
He added that “amidst all this pessimism is where you will also find sufficient discounts in the prices of secondhand assets which will provide the ample promise for reward that would com-pensate the current risk. One such size segment that shows to have a good ratio of risk against potential reward is that of the Hadysize vessels and particularly modern vessels on the larger end of the size spectrum (ie.35-38,000dwt). Prices for these assets have never been lower and compared to placing a new contracting on one of the “hungry for orders” shipyards, the discount is more than enough. At a price of US$ 13.5m for a 5 year old unit you get a discount of close to 40% which is equal to close to 8% deprecia-tion in value per year. But one may ask, why is this any different to the larger Supras and Panamaxes which offer similar if not better discounts on modern units?”.
“Handysize vessels seem to hold one more ace up the sleeve. Last month we witnessed yet another drop in size of the fleet in terms of number of vessels. The fleet now stands now stands at 2,437 which is only 3 more vessels then what there was on the 1st of January 2015. This becomes all the more noteworthy when you consider that this has happened during a period in the year were new building deliveries are more intense (everyone wants to benefit from having their vessel written as built in the new year), while also worth noting is the limited orderbook compared to the strong number of vessels in the fleet which are currently over 25 years of age”, said Lazaridis.
Earlier in the week, ship owner Pacific Basin, which is focused in the smaller ship classes, said that “in the Handysize and Handymax segments, where “market spot rates averaged US$5,070 and US$6,110 per day net respectively in the first quarter of 2015, representing a 45% reduction in average rates compared to the same period last year. Newbuilding deliveries deferred from 2014 into January and February coincided with the lunar new year holidays seasonal demand slowdown in China and seasonal export disruptions in key trade areas. Together, these pulled the Baltic Dry Index (BDI) to its lowest since indices began in 1985. However, spot market rates for Handysize and Handymax vessels have gradually improved since lunar new year, albeit from a very low base”, concluded Pacific Basin”.
Lazaridis concluded his analysis by noting that “all this put together allows for better prospects and in essence lower risk while providing comparatively similar asset play returns (in percentage terms) with that of the larger sizes. To close off, it is always worth noting that there is a bright side to every market slump as there is also a dark side to every market boom. Both need caution and proper estimating of the kind of risk/reward one engages with”.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
Tuesday, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
|
|
|
Showing 3061 to 3065 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
|
| |
| |
|
