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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 sought to take advantage of low prices, while those were still valid. In its latest weekly report, shipbroker Intermodal, noted that so far in 2013, there've been more than 1,500 deals concluded for an investment volume (from sales of which financial details were disclosed) which is over $21 billion. According to Intermodal's analysis, "the respective figures for 2012 were 1,200 deals and $14bn outlay. Compared with 2012, S&P activity on average was up by 26-27% on just about every month.
Intermodal's SnP broker, Mr. John N. Cotzias noted that dry bulk vessel prices " prices have increased significantly over the past 12 months. The most notable increase was noted in a five year old Panamax that has shot up by more than 50%. Last year, you could buy a five year 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", he noted.
Meanwhile, another factor which boosted vessel acquisitions was the fact that 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", Cotzias mentioned.
In 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.
Finally, in the ever so crucial demolition segment, statistics 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 $400 per ldt, always supported by the strong demand for steel. It goes without saying that the increased demolition activity we have seen over the past 4 years, tremendously helps alleviate the pressure of new tonnage entering the active fleet.
In general, we consider 2013 to be a year of momentum, with a lot of investment opportunities being “grabbed” by a number of players in the market. We are of the strong belief and share the opinion of many shipping professionals that, as far as this cycle is concerned, “we have seen the worst… !”, Intermodal's report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
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Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
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- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
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- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
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- Ministry of Transport, Egypt
- Posco Energy - South Korea
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- LBH Netherlands Bv - Netherlands
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- The University of Queensland
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
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- AsiaOL BioFuels Corp., Philippines
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- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
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