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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, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
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- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
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