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Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
 In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends and some very interesting points and findings that stood out which I would like to share with you. In the first half of 2013 the Dry Cargo freight markets, found Capes earning much less than all other dry bulk size segments. This was rectified after June and today the rates are currently more or less back in line with the respective carrying capacity and we hope that the momentum will feed through to 2014.
On the SnP front, activity was superb. We had more than 1,500 deals concluded so far in the year. The total USD outlay, from sales of which details are disclosed, is slightly more than $ 21bn. The respective figures for 2012 are 1,200 deals and $14bn outlay. Compared to 2012, S&P activity on average was up by 26-27% on just about every month. Dry Bulk vessels prices have increased significantly over the past 12 months. The most notable increase was noted in a 5 yr old Panamax that has shot up by more than 50%. Last year, you could buy a 5 yr old Panamax with $ 17-18m. Today with the same money you are just about purchasing a 10 yr old Panamax!!! Rising price didn’t deter investors from acquiring vessels. To the contrary we can say. The fact that conventional financing was practically scarce meant that a very important chunk of SnP deals was mostly financed by “own pockets” and/or alternative sources of finance.
Additionally, trust in the banking system was shaken this year. The fearful and sad scenario of thousands realizing that their bank deposits could suffer a tremendous haircut over-a-weekend, as it happened in Cyprus, made many shipowners and others turn into a what appeared as a much safer investment ; Shipping.
On the Newbuilding sector, we had many new orders, with more than 870 bulkers, 527 Tankers, 161 Gas Carriers and 243 Containers being contracted during this year so far. The majority of these contracts have gone to Chinese builders, whose share of orders this year amounts to more than Korea’s and Japan’s shares added up together. Non-availability of slots has taken off a lot of pressure from major shipbuilders to further reduce their prices and from a point onwards they actually started to charge a premium for earlier slots. However, if we still look back, current newbuilding prices are still on the low side.
Demolition stats show that more than 50m tons of DWT carrying capacity was taken from the world active fleet, compared to more than 60m tons in 2012. Nevertheless, last year was a record year and therefore difficult to match, therefore the fact that this year’s figure stands at these levels is still very significant. India appears to have been the leading demo country in both number of ships and dwt scrapped there, while China comes second in number of ships and 3rd in dwt. Demo prices hold firm, with the average since 2009 standing above $400 per ldt, always supported by the strong demand for steel. It goes without saying that the increased demolition activity we have seen over the past 4 years, tremendously helps alleviate the pressure of new tonnage entering the active fleet.
In general, we consider 2013 to be a year of momentum, with a lot of investment opportunities being “grabbed” by a number of players in the market. We are of the strong belief and share the opinion of many shipping professionals that, as far as this cycle is concerned, “we have seen the worst… !”
Happy New Year to All, full of health, joy, happiness and successful shipping deals!
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
Wednesday, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
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- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- The University of Queensland
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
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