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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, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- White Energy Company Limited
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
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