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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, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Bhatia International Limited - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Economic Council, Georgia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
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