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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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Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- PTC India Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
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