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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, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Minerals Council of Australia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
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