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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, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
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Showing 4701 to 4705 news of total 6871 |
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- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
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