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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 $3.4billlion. The bulk carrier segment is the segment that posed the least downfall among other vessel categories in the purchase of secondhand units compared with the first half of 2011.
Sources: Nikos Roussanoglou, Hellenic Shipping
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Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
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- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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