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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
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- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
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