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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, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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Showing 4916 to 4920 news of total 6871 |
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- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
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