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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- The University of Queensland
- Minerals Council of Australia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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