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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, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Australian Coal Association
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- The University of Queensland
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
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