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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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Showing 4961 to 4965 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Planning Commission, India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
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