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Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly report from shipbroker Intermodal, "if 2011 was a year of aggression with the majority of the shipping world treating it as a short slow down before the next bonanza, 2012 was a major slap in the face and a party killer making most people (there is a reason that I say most) realize the rates are on a downhill with no breaks. 3 words in 2012 in my humble opinion were the most popular in the shipping world. “Distressed,” “ECO” and “Finance”, wrote Intermoda's analyst, Mr. Timos Papadimitriou.
He noted that "starting with “Distressed,” the market has been looking for the so called “fire sales” of modern assets since 2010 to no avail, at least not to the extent many would like. But why is that? Charterers have being defaulting, owners have being defaulting, and many yards are for sure to default. But the really low prices have yet to be witnessed. We have started to slowly but surely see assets being marketed cheap in the container sector, but these 90’s units are hardly of interest any more. Will dry bulkers and tankers provide similar opportunities for modern distressed assets? It’s doubtful. Units built after 2007 had been contracted at much higher levels compared to today’s NB prices and keep in mind that the finance that these vessels operate on, is unlikely to have been completely repaid yet. As such, the banks will be reluctant to sacrifice these vessels to the market just yet. It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.” Time will tell" he stressed.
Intermodal's analyst went on to explain what 2012 meant in terms of the crowd favorite word of "Eco". He mentioned that "ECO tankers, ECO Bulkers, ECO containers and so on. There so many different opinions, predictions and questions. Will the new vessels render the older ones obsolete? Will the ECOs see the anticipated premiums? How will they perform under bad weather? Can the older vessels be cheaply retrofitted to run as efficiently? And what if oil prices drop? The last question cracks me up every time! In my very humble opinion it will come down to the owner/operator. Undeniably, what’s more important than the vessel itself, is to know how to manage/operate a vessel. It’s “back to basics,” and the charterers are well aware of that. Yes the ECO vessels will attract curiosity but their value might not only be in the FOC they boast but also in other features they will be fitted with that will allow them to comply with new regulations and laws. Again time will tell" he said.
Finally he stated that "last but not least we have reached our final point, “Finance.” These days finance resembles “Nessie” the Loch Ness Monster. There is something out there but what exactly is it? that we don’t know yet. European banks are silent or playing dead (emphasis on “playing”) making the credit thirsty parties look to China for Nessie but with no consistency in the sightings. Truth to be told, there is some finance from China as well as other sources like the recently reported Bumi deal which was backed up by Indian money. So finance might not be easily found or even acquired, but taking the right steps and most importantly having a healthy financial past will lead you to the end of the rainbow. Once again time will tell" Papadimitriou said.
He concluded his argument by noting that "the shipping market has always been a steady supplier of surprises and curve balls. When all things point to one direction, something has always happened that defied all odds and changed the market’s course. Yes there are still A LOT of bulk carriers to be delivered, yes the global economic environment does not favor end products that are shipped with containers and yes the tanker market is struggling to find its footing but maybe the New Year will lead to new opportunities emerging. Time will indeed tell".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Economic Council, Georgia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
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