We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, most ship owners are finding themselves caught “between a rock and hard place”. But is it really this the case? Some shipbrokers believe that the current market environment has also one important side effect, the fall of asset prices, which means that dry bulk ships are getting cheaper by the day. As such, cash-rich ship owners could easily take advantage of knock down prices, especially as more and more distressed sales could emerge in the coming weeks.
According to the latest report from shipbroker Allied Shipbroking, “while dry bulk owners start to feel that they have managed to get out of one bad patch, everyone starts to point at yet another up ahead. It seems to be a perfect storm unfolding and one that many will claim was more than expected. Yet amidst poor sentiment in the freight market is were real opportunity is born. The market will eventually recovery and those who manage to take the right pickings during the bottom are often herald as the pioneers and holders of true foresight of what lays ahead. However it is never as clear as that. Taking on any investment decision, as things stand now, seems to be bor-derline crazy. Earnings are hovering at around OPEX levels, often with owners search-ing into their own pockets in order to cover the cost of voyages they have fixed”, said Mr. George Lazaridis, Head of Market Research & Asset Valuations.
He added that “amidst all this pessimism is where you will also find sufficient discounts in the prices of secondhand assets which will provide the ample promise for reward that would com-pensate the current risk. One such size segment that shows to have a good ratio of risk against potential reward is that of the Hadysize vessels and particularly modern vessels on the larger end of the size spectrum (ie.35-38,000dwt). Prices for these assets have never been lower and compared to placing a new contracting on one of the “hungry for orders” shipyards, the discount is more than enough. At a price of US$ 13.5m for a 5 year old unit you get a discount of close to 40% which is equal to close to 8% deprecia-tion in value per year. But one may ask, why is this any different to the larger Supras and Panamaxes which offer similar if not better discounts on modern units?”.
“Handysize vessels seem to hold one more ace up the sleeve. Last month we witnessed yet another drop in size of the fleet in terms of number of vessels. The fleet now stands now stands at 2,437 which is only 3 more vessels then what there was on the 1st of January 2015. This becomes all the more noteworthy when you consider that this has happened during a period in the year were new building deliveries are more intense (everyone wants to benefit from having their vessel written as built in the new year), while also worth noting is the limited orderbook compared to the strong number of vessels in the fleet which are currently over 25 years of age”, said Lazaridis.
Earlier in the week, ship owner Pacific Basin, which is focused in the smaller ship classes, said that “in the Handysize and Handymax segments, where “market spot rates averaged US$5,070 and US$6,110 per day net respectively in the first quarter of 2015, representing a 45% reduction in average rates compared to the same period last year. Newbuilding deliveries deferred from 2014 into January and February coincided with the lunar new year holidays seasonal demand slowdown in China and seasonal export disruptions in key trade areas. Together, these pulled the Baltic Dry Index (BDI) to its lowest since indices began in 1985. However, spot market rates for Handysize and Handymax vessels have gradually improved since lunar new year, albeit from a very low base”, concluded Pacific Basin”.
Lazaridis concluded his analysis by noting that “all this put together allows for better prospects and in essence lower risk while providing comparatively similar asset play returns (in percentage terms) with that of the larger sizes. To close off, it is always worth noting that there is a bright side to every market slump as there is also a dark side to every market boom. Both need caution and proper estimating of the kind of risk/reward one engages with”.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
|
|
|
Showing 3126 to 3130 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- MS Steel International - UAE
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
|
| |
| |
|
