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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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Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
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