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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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Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
Monday, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
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- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Minerals Council of Australia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
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