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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
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- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
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