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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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Showing 4916 to 4920 news of total 6871 |
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- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
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