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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, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
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