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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, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- PTC India Limited - India
- Australian Coal Association
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
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