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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, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Australian Coal Association
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Indian Energy Exchange, India
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