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Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smaller ship sizes, with the bright exception of Panamaxes, which have been steadily recovering this week from earlier losses. As a result the industry’s benchmark, the Baltic Dry Index (BDI) was down by 1.2% to 1,889 points, with Capesize leading the losses. The BCI (Baltic Capesize Index) was down by 2,22% to 3,571 points, while both Supramaxes and Handysizes were also on the negative track, losing 0.5% and 0.6% respectively.
In a report this week from shipbrokers Intermodal, the issue of ship financing was the main focus. According to the shipbroker, troubles remain in the sector and have seemingly deteriorated further as news continues to surface with regard to financially troubled ship owners and ship finance houses. An increasing number of listed shipping companies have been filing for Chapter 11, many are ugently looking to restructure their debt and secure their financial position, while others are resorting to cancelling new building orders, because of their inability to follow through with them.
Intermodal’s George Lazaridis said that “since Since the start of the crisis, financing has been limited for shipping companies as most western markets are strapped for cash. Many German owners have already felt the deteriorating conditions as their traditional source of financing, the KG market, has been dried up and is unlikely any time soon to witness similar funding volumes compared to those in the past. In the rest of Europe, banks are lacking lending capability and due to the heavy regulations and stress tests they are subjected to, have been trying to restructure most of their portfolios and are not in their current state ready to extend to much new business and new clients.
With the European debt crisis looking to continue while at the same time fundamentals point to a poorly performing freight market in 2012, it is expected that we will see financing problems carry on for shipowners. They will have to find novel ways to manage their cash flows and ride out the storm. On the other hand, all this turmoil has surfaced and will continue to provide perfect investment opportunities for cash rich shipowners. Secondhand prices have dropped considerably for both tankers and bulkers this year, while current earnings, although at low levels, are ample enough to cover in most cases OPEX costs and fairly inexpensive CAPEX costs. What’s more is that buying at current levels means that you have secured shipping assets at fairly close to their rock bottom levels and as long as you can operate them and maintain them long enough there is opportunity for considerable gains to be made once the tide turns. After all, shipping is a long term investment and is accustomed to market cycles just like any other market” said Mr. Lazaridis.
He went to state that with all that in mind and considering the fact that there are few investment options out there beyond shipping, that can secure a highly enticing return; “shipping assets remain a comparably good and sound investment option. One only has to look at the US and European stock markets these past months to confirm this. Going back a couple of years and you would find your stockbroker advising you that the safest bet in the stockmarket is shares in large financial organisations; claiming guaranteed return and ever increasing prices. It is not the opinion of this writer that shipping assets are a safer bet, but to “shipping people” it is an investment decision they know and understand much better. That on its own makes for much better risk management.
It is no surprise therefore that we see the same nationalities holding the top position for shipping investments. Greeks continue to lead the SnP market and are likely to close the year with an investment of over $ 4.5bn in secondhand vessels, while Chinese are close second though with a considerably lower total investment sum. What drives the point home is that this was done in the back drop of a major Greek sovereign debt crisis which has been unfolding since early 2010” concluded Lazaridis.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
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