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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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- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
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