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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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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
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