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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, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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Showing 5011 to 5015 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Economic Council, Georgia
- The University of Queensland
- Planning Commission, India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Australian Coal Association
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
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