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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
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