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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
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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 ...
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Showing 4411 to 4415 news of total 6871 |
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- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
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