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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
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