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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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Monday, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- The University of Queensland
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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