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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
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- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
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