We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and other financing firms to invest in them and their good judgement when it comes to choosing the best available deal. As a result, 2012 bore witness to several prominent shipping entities teaming up with powerful players from the financial scene in order to back their purchasing efforts with the use of the more liquid US money markets. Intermodal's latest weekly report asked the question of "how could ship owners have generated sufficient interest towards such a highly cyclical and volatile industry during such times of uncertainty?"
According to Intermodal's Christos Mantzios, "one answer could possibly be the close to historical lows asset prices, thus reducing substantially the cost of acquiring such an asset and therefore making the entry into said market a more viable possibility from a medium-term investment perspective.
Although the market entry point for both the dry bulk and tanker assets is at relatively low levels, the “bottom of the barrel scrapping” charter rates experienced throughout 2012, as well as the poor market fundamentals for 2013 (daunting overcapacity), should have caused most of these major financial players to show a preference in the tanker market which showed more promise during 4Q2012. This revived strength in the tanker market (dirty during 3Q and clean during 4Q) was epitomised by the fresh wave of new ordering at S.Korean yards by major market players such as BP (Aframax , Suezmax), Sinokor (MR) and US-listed Scorpio Tankers (MR) towards the end of the year. But if the current state of the dry bulk market was so bad, why the increased interest in Panamax bulkers? In 2012 Panamax bulkers accounted for 26% of all dry bulk SnP deals, compared to only 19% in 2011. At the same time the majority of these involved older aged units (10-15year old) which seemed to also show the strongest drop in prices. This generated a strong appetite for Panamax tonnage, especially amongst Greek owners, pushing for en masse acquisitions of the numerous available Japanese candidates built in the 1996-2002 bracket" said Mantzios.
He added that "buyers have on their side the fact that asset prices for both Panamax bulkers and Aframax tankers are close to their historical lows. The value of a 5 year old Panamax bulker currently stands at approximately USD 17.5mill, a far cry from the USD 26-27mill required a year ago..... For a 10 year old vessel the figure is around USD 12-12.5mill and for a 15 year old its less than USD 10mill.. That is a substantial difference from Nov 2011 when the price for a 10 year old Panamax stood at USD 21mil. Of course, back in Nov 2011 such a vessel was seeing earnings in the region of USD 13,000-14,000/day compared with USD 8,000/day currently seen for 1 year TC. This may well be part of the explanation as to why prices have eroded over the past year, but it’s important to also note that the replacement cost (newbuilding price) for such a vessel back then was in the region of USD 29mill, while it now stands at around USD 25,5mill. Therefore it has started to make much more sense today to buy a 10 year old Panamax bulker then placing an new order compared to roughly a year ago where a 10 year old Panamax bulker was equal to 70% of the then price of a newbuilding (comparably this same percentage is now 46.6%)" he said.
Intermodal's analysis also indicated that "on the Aframax front the explanation could be slightly different due to the fact that a 10 year old vessel was worth USD 20,5mill and faring USD 14,000/day back in Nov 2011 and a replacement cost of USD 52,5mill, compared with a value of just under USD 17mill, TC of USD 14,000/day and newbuilding price of USD 48-49mill respectively in today's market. Thus the answer possibly lies in the supply/demand landscape which for Afras stands most favourably, with the orderbook representing 5% of the existing fleet which is by far the best ratio in not just all the tanker but also the bulker segments. But stronger buyers’ appetite might eventually be good news for owners/sellers of same tonnage, as it would help keep prices more buoyant and even allow them to strengthening again at some point" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
Thursday, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
|
|
|
Showing 4411 to 4415 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
|
| |
| |
|
