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$6,110 per day net respectively in the first quarter of 2015, representing a 45% reduction in average rates compared to the same period last year. Newbuilding deliveries deferred from 2014 into January and February coincided with the lunar new year holidays seasonal demand slowdown in China and seasonal export disruptions in key trade areas. Together, these pulled the Baltic Dry Index (BDI) to its lowest since indices began in 1985. However, spot market rates for Handysize and Handymax vessels have gradually improved since lunar new year, albeit from a very low base”, concluded Pacific Basin”.
Lazaridis concluded his analysis by noting that “all this put together allows for better prospects and in essence lower risk while providing comparatively similar asset play returns (in percentage terms) with that of the larger sizes. To close off, it is always worth noting that there is a bright side to every market slump as there is also a dark side to every market boom. Both need caution and proper estimating of the kind of risk/reward one engages with”.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
|
|
|
Showing 3131 to 3135 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- The University of Queensland
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
|
| |
| |
|
