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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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Showing 4961 to 4965 news of total 6871 |
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- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- The University of Queensland
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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