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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 Intermodal in a recent report. After all, the question on everyone’s lips these days appears to revolve around the timing of their investment on the market, as well as which type, size and age of vessel to buy. In the report, Intermodal noted that “we can look at the available historic data, and indicators to plan our strategy accordingly. We take the view that the investment should have adequate remaining life ahead to give its owners the required return. As far as the timing of the investment is concerned, one indicator is the forward ship supply at any given time, which is simply defined as the current fleet plus the orderbook at a specific point in time” said the report.
It added that in the Handysize sector, “the forward ship supply as of July 1st 2012 is less than what it was one year earlier by more than 50 vessels. Combined with the fact that 45% of the fleet is over 15 years old we believe that the supply in this segment has started shrinking and modern vessels or new buildings of this size may be more attractive than other sizes. Looking at the supramax size, we see that while the actual fleet grew by more than 300 vessels the past year the forward supply grew only by 50 vessels showing that the fleet is close to peaking and will soon start shrinking too.
In the panamax size, the existing fleet grew by 170 vessels the past year and the forward supply grew by around 80 vessels, confirming the fact that the panamax/kamsarmax supply has not peaked and the 650 vessels that are still on order will have a significant impact on the market. In the capesize segment we also have seen the forward supply contracting due to the depressed market leading to strong demolition activity” said Intermodal. It concluded its argument by asking the important question: “As we come out from the oversupply quicksand, the question is 'will the demand be there at the exit?”
In any case, prices are far lower than in 2008, prompting ship owners to examine their options. In a recent report, Golden Destiny noted that 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.
The shipbroker 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 concluded.
Source: 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 ...
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 ...
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 ...
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- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
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