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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
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