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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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Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
Tuesday, 06 November 12
NOVEMBER 2012 HBA $35.21 LOWER THAN A YEAR AGO
COALspot.com - The Indonesian government’s declared coal reference price for November’ 12 has lost US$ 4.60 per MT M-o-M.
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Showing 4511 to 4515 news of total 6871 |
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- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- GMR Energy Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
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