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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, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
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