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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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Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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Showing 5011 to 5015 news of total 6871 |
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- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
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