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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of June 2008 was more than $153 million. This comes to show how much ship prices have fallen in the past few years, which favors new investors in the business. On the other hand, it has caused major headaches among existing ship owners, especially those who invested at the end of the growth cycle, i.e. during the 2007-2008 period. They are now facing huge problems, as they have to provide added collaterals on bank who financed the purchase of those vessels. It's also one of the reasons that banks are reluctant to lend again to the shipping industry, which has been deemed as a risky one, as a result of these past "extravagance" of prices. This has caused some banks to become ship owners these days.
In its latest biannual report, Piraeus-based Golden Destiny noted that second hand vessel prices have plunged during the first half of 2012, mainly in the large sized segments, i.e. the Capesize and the Panamax one. In the panamax market, data from the Baltic Exchange shows that a 5 year old vessel of 52,000 dwt is now worth about $22 million, from $27.5 million at the end of June of 2011, while at the end of June of 2008, the cost for the same ship was more than $75 million.
The report also noted that "in the newbuilding market, similar sharp declines in prices offered by major yards are viewed with investors being more conservative in the placement of new contracts as the instability of the freight market and the challenge of oversupply with upcoming deliveries are creating uncertainty for strong newbuilding investments. A capesize unit of 186,300 dwt reported on order in February this year at Shanghai Waigaoqiao of China for a price in the region of $49,8mil, while at the end of May 2008, a capesize unit of 176,000 dwt had been reported on order at Chinese yard, Zhoushan Jinhawaian for a price about $88,5million" it noted.
This is one of the main reasons why ship owners have invested a fair amount of money in second hand vessel purchases during the first six months of the year, with a total of $6.1 billion for 555 vessels, despite the fall in freight rates. According to the report, second quarter buys were up 24% since the first quarter, while in total the first half of 2012 showed a decline of 9% compared to the same period of 2011, which is a remarkable feat, when considering the global economy uncertainty, the oversupply of tonnage in dry bulk and most other shipping markets and the lack of financing especially in Western Europe.
According to Golden Destiny, dry bulk carriers and tankers accounted for 33% and 26% of the total investment, while containers and liners follow with a 14% and 11% share respectively of the total S&P activity. The bulk carrier, gas tanker and container segments have shown a sharp revival in the volume of vessels reported to have changed hands from the previous quarter with a 31%, 44% and 39% increase respectively. The total amount of money invested for secondhand units this year is lower than the first half of 2011, 43% down, when 610 vessels had been reported to have changed hands at more than $10.7bn, with 103 sale and purchase transactions at an undisclosed sale price. The bulk carrier segment has shown a 31% increase with a total 105 vessels reported to have changed hands during April-June 2012 from 80 vessels in the first three months of the year, while a total of 185 vessels reported sold during the first half of the year at a total invested capital of more than $2.5bn, 11 sale and purchase transactions reported at an undisclosed contract price. “Amid the severe freight market status with capesizes struggling to cover their operating expenses and BDI crawling to remain above 1,000 points, investors haven’t lost their buying appetite by slowing their secondhand purchases only 6% down from the first half of 2011, when 196 bulk carriers changed hands at a total invested capital of more than $3.4billlion. The bulk carrier segment is the segment that posed the least downfall among other vessel categories in the purchase of secondhand units compared with the first half of 2011.
Sources: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Planning Commission, India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
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