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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, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
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