We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
|
|
|
Showing 4711 to 4715 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- PTC India Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
|
| |
| |
|
