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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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- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
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