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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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Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Planning Commission, India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
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