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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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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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