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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
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- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Bhatia International Limited - India
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