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Friday, 23 November 12
CHOOSING THE RIGHT TIME TO INVEST IN NEW VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Shipping is all about timing, a process often rising to the height of artform, as ship owners are having to pick the exact moment of selling most of their fleet and investing a new one, i.e. selling high and buying low. As the current market conditions favor the buying part of the market, with asset values on a downward path during the past few years, it's not easy to pick the right time, since next week a vessel with similar specifications to the one purchased, may have lost an additonal few thousand dollars off its value and in shipping even those matter.
As a result, it is very difficult to predict with full accuracy the proper timing, not to mention estimate where vessel values will have moved during the next couple of months. According to the latest weekly report from Piraeus-based Intermodal, despite the fact that most market pundits continually voice that second-hand and newbuilding prices have the potential to fall by as much as 20-30% in the next few months, there are always "Black Swan" events which catch everyone by surprise.
In his analysis, Intermodal's Panos Makrinos notes that "taking the case however that asset prices may drop further, it makes fair reason for any prospective buyer who currently has serious interest in buying new vessels, to wait for some time before taking any decisive action. All that being said, such a decision may well be within minimal risk of an upward swing in asset prices but always entailing some".
He added that "according to current market anticipation, the right time to buy a second-hand vessel or a newbuilding will be some point in the first half of 2013. The expectation is that prices will more accurately reflect the current low freight levels experienced as well as the lack of serious buying interest. The question that arises here is whether this common thinking is indeed reasonable and able in itself to persuade all these prospective Buyers to wait despite the discounted prices offered. In essence, their choice to wait means that they would forgo any potential gains that could be succeeded from acquiring modern second hand or newbuilding vessels at current levels. The question is to what extent should owners be chasing the market bottom, especially in the case were they are planning to make more than one vessel acquisition" he noted.
Makrinos also mentions that "in the case of new orders we can see a further case for owners to take on this decisive action, since we all appreciate that what both the dry and wet sectors need right now is ever stronger demolition activity in order to counterbalance all the new deliveries that we have seen in 2012 so far. As mentioned in our weekly report at the end of last month, in the dry sector alone we have seen more than 1,000 dry bulk carriers delivered since the start of the year with over 85 million tons of deadweight capacity and there is still time to go before the end of the year. This may well have been offset by the record number of demolitions seen, however we it has not been all smooth sailing in the scrap market. Demo prices have recently been under pressure and with a lack of clear market direction it looks as though they could possible soften further by the end of the year if we continue to see the current strong supply of demo tonnage in combination with weak steel demand.
What one might voice, is whether all this should truly influence one’s decision for further ordering. A new vessel is always treated better amongst charterers than an old one, while at the same time you would not expect to miss out on any “Party” while waiting for delivery. The argument as to whether one should order a new building or buy a secondhand unit will continue on for some time, however what is imperative and would be seen as an encouraging sign, is a more active stance towards demolition, especially while the current scrap steel prices still hold their ground. After all no-one knows what the New Year may have in stall for the shipping industry and it may well be better to be with cash at hand" the analyst concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
Sunday, 25 November 12
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO BE FIRM - VISTAAR
COALspot.com - The freight market was buoyant this week with all sectors up except for the Cape size index. The BDI was up by 5.21 pct closing at 10 ...
Sunday, 25 November 12
INDONESIAN SUB BITUMINOUS COAL SWAP CONTRACTS SLIDE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for February 2013 delivery lost 0.76percent WoW but gained 0.16 percent DoD on Friday ...
Saturday, 24 November 12
DELTA DUNIA MAKMUR PRODUCES 3.2 MILLION TONS OF COAL IN OCTOBER
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 31.1 million bcm* (-4.0% YoY) of Overburden in October 2012 totaled while coal production was ...
Thursday, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
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Showing 4486 to 4490 news of total 6871 |
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- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- Ministry of Finance - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
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