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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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Sunday, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
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Showing 4516 to 4520 news of total 6871 |
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- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- White Energy Company Limited
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
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