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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
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Showing 4926 to 4930 news of total 6871 |
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- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
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