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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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