Πρώτοι οι Ελληνες εφοπλιστές σε αξία επενδύσεων και το 2009
Την πρώτη θέση αναφορικά με το ύψος των επενδύσεων σε αγοραπωλησίες πλοίων, κράτησαν και το 2009 οι Ελληνες εφοπλιστές.
Σε αντίθεση με προηγούμενες χρονιές η ελληνική ναυτιλία έδωσε «μάχη» μέχρι την τελευταία στιγμή με τις ναυτιλιακές εταιρείας της Κίνας.
Συνολικά οι Ελληνες πλοιοκτήτες «έριξαν» στην αγορά 3,2 δισ. δολάρια για να αποκτήσουν 167 πλοία. Αντίστοιχα οι κινεζικών συμφερόντων εταιρείες αγόρασαν 211 πλοία, μικρότερης αξίας όμως αφού η επένδυσή τους σύμφωνα με τα στοιχεία της Allied Shipbroking ανέρχεται για το 2009 σε 2,85 δισ. δολάρια.
Σημειώνεται ότι το 2008 σε ελληνικά χέρια είχαν καταλήξει 197 πλοία αξίας 8 δισ. δολαρίων, και το 2007 445 πλοία αξίας 16,9 δισ. δολαρίων.
Από ελληνικής πλευράς στην αγορά μεταχειρισμένων τις εντυπώσεις έκλεψε η Lomar Shipping, που «χτύπησε» στο τέλος του χρόνου.
Ειδικότερα στις αρχές Δεκεμβρίου η εταιρεία συμφερόντων οικογένειας Λογοθέτη αγόρασε ολόκληρο το στόλο της εταιρείας Allocean, αποτελούμενο από 26 πλοία έναντι 325 εκατ. δολαρίων.
Ο στόλος διαθέτει πλοία ξηρού φορτίου, LPG, πλοία μεταφοράς κοντέινερ, product τάνκερ, τάνκερ μεταφοράς χημικών, AHTS και PSV. Με την προσθήκη των πλοίων της Allοcean η Lomar θα έχει πλέον στη διάθεσή της ένα στόλο από 32 πλοία, ενώ κατασκευάζει άλλα τρία.
Οι κατηγορίες
Ανά κατηγορία πλοίων οι Ελληνες πλοιοκτήτες κατάφεραν να διατηρήσουν άνετα την πρωτοπορία στα δεξαμενόπλοια, αλλά έχασαν στο νήμα την πρωτιά από τους Κινέζους στα φορτηγά πλοία.
Ειδικότερα σε ελληνικά χέρια κατέληξαν 32 δεξαμενόπλοια έναντι 768,45 εκατ. δολαρίων, ενώ οι Κινέζοι αγόρασαν σύμφωνα με τα στοιχεία της Allied 13 δεξαμενόπλοια αξίας 72,85 εκατ. δολαρίων.
Στον τομέα των φορτηγών πλοίων οι Ελληνες αγόρασαν 120 έναντι 2,334 δισ. δολαρίων, ενώ σε κινέζικες εταιρείες κατέληξαν 186 φορτηγά πλοία αξίας 2,459 δισ. δολαρίων.
Επίσης οι Ελληνες πλοιοκτήτες αγόρασαν 10 containerships έναντι 83,75 εκατ. δολαρίων, ενώ άλλα 10 αγόρασαν και οι Κινέζοι για 72,85 εκατ. δολάρια.
Τέλος στον τομέα των πλοίων ψυγείων οι εφοπλιστές των δύο χωρών απέκτησαν από δύο, αξίας, 22,65 εκατ. δολαρίων για την ελληνική πλευρά και 12,8 εκατ. δολαρίων για την κινεζική.
Πέφτουν οι τιμές
Χαρακτηριστικό της φετινής χρονιάς είναι η πολύ μεγάλη μείωση των τιμών των πλοίων, κοντά στο 50%, αποτέλεσμα της οικονομικής κρίσης που ταλανίζει και τη ναυτιλία.
Είναι χαρακτηριστικό ότι το 2008 αγοράστηκαν στη secondhand market 1.119 πλοία χωρητικότητας 50,8 εκατ. dwt έναντι 30,23 δισ. δολαρίων, ενώ φέτος άλλαξαν ιδιοκτήτες 1.162 πλοία χωρητικότητας 55,73 εκατ. dwt έναντι 15,78 δισ. δολαρίων.
Επίσης στη διάρκεια του 2007 είχαν πουληθεί 1.808 πλοία αξίας 45,9 δισ. δολαρίων.
Μέσα στο 2009 έχουν πουληθεί 731 φορτηγά πλοία χωρητικότητας 34,5 εκατ. dwt αξίας 9,24 δισ. δολαρίων. Το 2008 ήταν 586 τα πλοία χωρητικότητας 24,εκατ. dwt και αξίας 14,29 δισ. δολαρίων.
Επίσης στα δεξαμενόπλοια φέτος έγιναν 248 αγοραπωλησίες 17,944 εκατ. dwt και αξίας 5,19 δισ. δολαρίων. Πέρσι είχαν φτάσει τα 347 χωρητικότητας 23,17 εκατ. dwt και με συνολική αξία συναλλαγών τα 11,34 δισ. δολάρια.
naftemporiki
Economy | Business | Social | Leaked | Opinions
Sunday, January 3, 2010
Job Losses Probably Eased in December: U.S. Economy Preview
Job Losses Probably Eased in December: U.S. Economy Preview
Jan. 3 (Bloomberg) -- The worst U.S. employment slump in the post-World War II era may have almost ended in December, signaling the recovery will not be jobless much longer, economists said before reports this week.
Payrolls probably fell by 1,000 workers last month, the smallest drop since the recession began two years ago, according to the median of 58 economists surveyed by Bloomberg News ahead of a Jan. 8 Labor Department report. The unemployment rate may have climbed to 10.1 percent from 10 percent.
Stimulus-driven gains in global demand mean American companies may need to start boosting payrolls in 2010 after eliminating 7.2 million jobs since the recession began in December 2007. Manufacturers are leading the rebound in growth as a pickup in orders and rising exports, combined with a record reduction in inventories, spurs production.
“Businesses are starting to come out of their shells,” said Zach Pandl, an economist at Nomura Securities International Inc. in New York. “We have turned the corner convincingly and have started on a path toward growth.”
The declines in payrolls the last two years have been the biggest as a percentage of all jobs since 1944-45.
A 10.1 percent reading in December would put the average jobless rate last year at 9.3 percent. The increase from 5.8 percent in 2008 would mark the biggest annual surge in records going back to 1940.
Economists anticipate the jobless rate will exceed 10 percent through the first half of this year, according to the median forecast of economists surveyed last month.
Government Measures
President Barack Obama last month proposed additional spending on the nation’s transportation system, tax credits to spur hiring by small businesses and incentives to make homes more energy efficient in a second round of efforts to cut the jobless rate.
Lawrence Summers, the White House chief economic adviser, said in a Bloomberg Radio interview on Dec. 15 that the prospect of a return to job growth is “an important achievement.”
The economy grew at a 2.2 percent annual rate in the third quarter, the first gain in more than a year. The median projection of economists surveyed in December anticipated growth of 3 percent in the last three months of 2009. Since the survey, economists at JPMorgan Chase & Co. and Credit Suisse have revised estimates to more than 4 percent.
Staffing at temporary employment agencies jumped the most in five years in November, which some economists and executives view as a sign total payroll growth is imminent.
Temporary Help
Increases in temporary hiring are “a classic part of the recovery,” Manpower Inc. Chief Executive Officer Jeffrey Joerres said in a Bloomberg Television interview Dec. 31. The firm is seeing “slow but steady increases in people who are out on assignment. It’s a little bit in every office, which is a good sign because it’s broad-based.”
Manufacturing, which accounts for about 12 percent of the economy, has been a driver of the recovery and is projected to continue to expand. The Institute for Supply Management may report tomorrow its factory index rose last month to 54, according to the survey median. The gauge has surpassed the breakeven level of 50 since August.
A separate report from the Commerce Department on Jan. 5 may show factory bookings increased 0.5 percent in November after rising 0.6 percent the previous month, according to economists surveyed.
Another report from the supply managers may show the broader economy returned to expansion in December. The group’s gauge covering non-manufacturing firms, due Jan. 6, probably rose to 50.5, according to the survey median.
Stocks in Second Half
U.S. stocks rallied in the second half of the year as evidence of an economic recovery mounted. The Standard & Poor’s 500 Index climbed 65 percent since sinking to a 12-year low on March 9, ending 2009 at 1,115.1.
Reports on housing this week may show the market slowing after a government tax credit spurred sales earlier in the year. The National Association of Realtors on Jan. 5 may report that pending sales of existing homes fell 3 percent in November after rising 3.7 percent the prior month, according to the survey median.
Spending on construction projects, due from the Commerce Department tomorrow, may have dropped 0.5 percent in November after no change the month before, the survey showed.
Bloomberg Survey
================================================================
Release Period Prior Median
Indicator Date Value Forecast
================================================================
ISM Manu Index 1/4 Dec. 53.6 54.0
ISM Prices Index 1/4 Dec. 55.0 58.8
Construct Spending MOM% 1/4 Nov. 0.0% -0.5%
Pending Homes MOM% 1/5 Nov. 3.7% -3.0%
Factory Orders MOM% 1/5 Nov. 0.6% 0.5%
Vehicle Sales Mlns 1/5 Dec. 10.9 11.0
Domestic Vehicles Mlns 1/5 Dec. 8.4 8.3
ABC Conf Index 1/5 Jan. 4 -44 -43
MBA Mortgage Applicatio 1/6 Dec. 26 -10.7% n/a
ADP Payroll ,000’s 1/6 Dec. -169 -75
ISM NonManu Index 1/6 Dec. 48.7 50.5
Nonfarm Payrolls ,000’s 1/8 Dec. -11 -1
Unemploy Rate % 1/8 Dec. 10.0% 10.1%
Manu Payrolls ,000’s 1/8 Dec. -41 -35
Hourly Earnings MOM% 1/8 Dec. 0.1% 0.2%
Hourly Earnings YOY% 1/8 Dec. 2.2% 2.1%
Avg Weekly Hours 1/8 Dec. 33.2 33.2
Whlsale Inv. MOM% 1/8 Nov. 0.3% -0.3%
Cons. Credit $ Blns 1/8 Nov. -3.5 -5.0
================================================================
bloomberg
Goldman Sachs Helps YRC Avert Bankruptcy Following Hoffa’s Plea
Goldman Sachs Helps YRC Avert Bankruptcy Following Hoffa’s Plea
Jan. 1 (Bloomberg) -- Goldman Sachs Group Inc. helped YRC Worldwide Inc. complete a debt swap to avert bankruptcy after the Teamsters union said the bank was trying to profit from a failure of the largest U.S. trucker by sales.
A group consisting of Goldman Sachs, Deutsche Bank AG, Aristeia Capital LLC, Silverback Asset Management and a Smith Management LLC unit, “got us over the goal line by going into the market, buying bonds and tendering them,” YRC Chief Executive Officer Bill Zollars said yesterday.
YRC extended the deadline for the bond exchange six times in December as it sought to overcome resistance from bondholders owning derivatives that would pay out if the company defaulted. YRC, which has posted $1.7 billion in losses in the past five quarters, needed to complete the exchange by Dec. 31 to avoid a bank payment that would have left the trucker in an “unsustainable” position, the Overland Park, Kansas-based company said in a regulatory filing two weeks ago.
International Brotherhood of Teamsters President James Hoffa said in letters last month to regulators and lawmakers that Goldman Sachs and Deutsche Bank were among banks that “have a history of making markets in these types of derivative financial products.”
Goldman Sachs spokesman Michael DuVally said Dec. 17 that the bank was “actively exploring ways to help” YRC.
Bondholders with 70 percent of YRC’s $150 million of 8.5 percent notes due in April offered to tender, meeting the required threshold, the company said yesterday in a statement. That’s an increase over the 59 percent that participated by Dec. 29. Holders of 88 percent of all of the company’s outstanding bonds, with a face value of $470 million, participated in the exchange, the company said.
Profit From Failure
YRC’s $150 million of 8.5 percent notes rose 4.8 cents to 65.1 cents on the dollar yesterday, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
“The most difficult bondholders to deal with were investors with credit-default swaps that paid off if the company went bankrupt,” Zollars, 62, said in a telephone interview. “It doesn’t seem right that individual investors would make money against companies surviving, particularly in this economy.”
No so-called less-than-truckload company -- one that hauls goods for more than one customer in the same trailer -- has survived bankruptcy in the last 30 years, according to the Teamsters, the union that says it represents about 30,000 YRC employees.
“We never want to test that theory,” Zollars said. “We’re completely focused on not having to go into bankruptcy and one of the biggest ways to do that is to take nearly $500 million of debt off the balance sheet.”
Teamsters Campaign
The Teamsters urged hedge funds and banks it believed owned the debt to vote for the exchange or sell their securities. In the last two days, efforts to build support paid off, Zollars said.
“We worked closely with YRC’s advisers and other bondholders over the holidays to rally support for the exchange,” Nicholas Pappas, the co-head of flow credit trading in the Americas at Deutsche Bank, said in a statement. “We are thrilled with the outcome and support their long-term success.”
Goldman Sachs’s DuVally said yesterday “we’re pleased to have played a constructive role in the process.”
Labor ‘Breakthrough’
The “risk of public rebuke,” along with “even more legislative threats” to the market for credit-default swaps resulting from the bankruptcy of a large employer of organized labor, helped the exchange pass, CreditSights Inc. analyst Sam Goodyear in New York wrote in a report yesterday.
Hoffa said the YRC debt exchange marked “our first time doing a campaign like this where we really had to get into high finance.”
“It’s a new breakthrough for labor unions working on Wall Street to make something happen,” Hoffa said yesterday. “It’s very positive for a major company.”
Officials at Silverback and Smith declined to comment. Aristeia didn’t return calls.
UBS AG told the union it tendered its bonds, according to a Teamsters statement. Cyrus Hadidi, a partner at JMB Capital Partners in Los Angeles, also named by the Teamsters as holding a position, said his company is “fully supportive” of YRC’s restructuring efforts and has tendered all its bonds.
Interest Payment Due
YRC had to complete the exchange to avoid a $19 million interest payment. The company can now defer this payment and will have increased access to its bank lines, YRC said. It will defer additional lender interest and fees of $20 million to $25 million per quarter during 2010 depending on usage of its credit agreement and an asset-backed securitization facility.
The trucking company has a $950 million revolving credit line with a group of banks led by JPMorgan Chase & Co., as well as a $111.5 million term loan, according to data compiled by Bloomberg. YRC has $1.6 billion of loans and bonds, Bloomberg data show. The company took on debt when Yellow Corp. acquired Roadway Corp. in 2003 for $1.07 billion and then bought USF Corp. in 2005 for $1.37 billion.
Credit-default swaps are financial instruments based on bonds and loans that are used to hedge against losses or to speculate on a company’s ability to repay debt. They pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to adhere to its debt agreements.
bloomberg
Jan. 1 (Bloomberg) -- Goldman Sachs Group Inc. helped YRC Worldwide Inc. complete a debt swap to avert bankruptcy after the Teamsters union said the bank was trying to profit from a failure of the largest U.S. trucker by sales.
A group consisting of Goldman Sachs, Deutsche Bank AG, Aristeia Capital LLC, Silverback Asset Management and a Smith Management LLC unit, “got us over the goal line by going into the market, buying bonds and tendering them,” YRC Chief Executive Officer Bill Zollars said yesterday.
YRC extended the deadline for the bond exchange six times in December as it sought to overcome resistance from bondholders owning derivatives that would pay out if the company defaulted. YRC, which has posted $1.7 billion in losses in the past five quarters, needed to complete the exchange by Dec. 31 to avoid a bank payment that would have left the trucker in an “unsustainable” position, the Overland Park, Kansas-based company said in a regulatory filing two weeks ago.
International Brotherhood of Teamsters President James Hoffa said in letters last month to regulators and lawmakers that Goldman Sachs and Deutsche Bank were among banks that “have a history of making markets in these types of derivative financial products.”
Goldman Sachs spokesman Michael DuVally said Dec. 17 that the bank was “actively exploring ways to help” YRC.
Bondholders with 70 percent of YRC’s $150 million of 8.5 percent notes due in April offered to tender, meeting the required threshold, the company said yesterday in a statement. That’s an increase over the 59 percent that participated by Dec. 29. Holders of 88 percent of all of the company’s outstanding bonds, with a face value of $470 million, participated in the exchange, the company said.
Profit From Failure
YRC’s $150 million of 8.5 percent notes rose 4.8 cents to 65.1 cents on the dollar yesterday, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
“The most difficult bondholders to deal with were investors with credit-default swaps that paid off if the company went bankrupt,” Zollars, 62, said in a telephone interview. “It doesn’t seem right that individual investors would make money against companies surviving, particularly in this economy.”
No so-called less-than-truckload company -- one that hauls goods for more than one customer in the same trailer -- has survived bankruptcy in the last 30 years, according to the Teamsters, the union that says it represents about 30,000 YRC employees.
“We never want to test that theory,” Zollars said. “We’re completely focused on not having to go into bankruptcy and one of the biggest ways to do that is to take nearly $500 million of debt off the balance sheet.”
Teamsters Campaign
The Teamsters urged hedge funds and banks it believed owned the debt to vote for the exchange or sell their securities. In the last two days, efforts to build support paid off, Zollars said.
“We worked closely with YRC’s advisers and other bondholders over the holidays to rally support for the exchange,” Nicholas Pappas, the co-head of flow credit trading in the Americas at Deutsche Bank, said in a statement. “We are thrilled with the outcome and support their long-term success.”
Goldman Sachs’s DuVally said yesterday “we’re pleased to have played a constructive role in the process.”
Labor ‘Breakthrough’
The “risk of public rebuke,” along with “even more legislative threats” to the market for credit-default swaps resulting from the bankruptcy of a large employer of organized labor, helped the exchange pass, CreditSights Inc. analyst Sam Goodyear in New York wrote in a report yesterday.
Hoffa said the YRC debt exchange marked “our first time doing a campaign like this where we really had to get into high finance.”
“It’s a new breakthrough for labor unions working on Wall Street to make something happen,” Hoffa said yesterday. “It’s very positive for a major company.”
Officials at Silverback and Smith declined to comment. Aristeia didn’t return calls.
UBS AG told the union it tendered its bonds, according to a Teamsters statement. Cyrus Hadidi, a partner at JMB Capital Partners in Los Angeles, also named by the Teamsters as holding a position, said his company is “fully supportive” of YRC’s restructuring efforts and has tendered all its bonds.
Interest Payment Due
YRC had to complete the exchange to avoid a $19 million interest payment. The company can now defer this payment and will have increased access to its bank lines, YRC said. It will defer additional lender interest and fees of $20 million to $25 million per quarter during 2010 depending on usage of its credit agreement and an asset-backed securitization facility.
The trucking company has a $950 million revolving credit line with a group of banks led by JPMorgan Chase & Co., as well as a $111.5 million term loan, according to data compiled by Bloomberg. YRC has $1.6 billion of loans and bonds, Bloomberg data show. The company took on debt when Yellow Corp. acquired Roadway Corp. in 2003 for $1.07 billion and then bought USF Corp. in 2005 for $1.37 billion.
Credit-default swaps are financial instruments based on bonds and loans that are used to hedge against losses or to speculate on a company’s ability to repay debt. They pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to adhere to its debt agreements.
bloomberg
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