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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
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