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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, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- The University of Queensland
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
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