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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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Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Planning Commission, India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- White Energy Company Limited
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- The University of Queensland
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Australian Coal Association
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
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