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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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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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Showing 4966 to 4970 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Planning Commission, India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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