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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
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