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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
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Showing 4926 to 4930 news of total 6871 |
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- Singapore Mercantile Exchange
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
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