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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
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