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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Minerals Council of Australia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Romanian Commodities Exchange
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