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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Australian Coal Association
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Economic Council, Georgia
- Planning Commission, India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
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