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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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