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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, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- MS Steel International - UAE
- ASAPP Information Group - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Australian Coal Association
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Planning Commission, India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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