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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 It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.”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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Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
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