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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
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- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Australian Coal Association
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
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