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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, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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Showing 4921 to 4925 news of total 6871 |
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- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Australian Coal Association
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Planning Commission, India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
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