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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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Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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Showing 4911 to 4915 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
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