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Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most important issue plaguing freight markets, the shipping industry is looking at yet another challenging year ahead, as 2013 is edging closer and closer. According to most market analysts, a potential recovery has to be postponed until at least 2014, but things could get even worse in the meantime, as a result of potentially further troubles in Europe.
According to Intermodal's latest analysis report, "the hit this time will be taken by the already crippled ship finance sector, with the upcoming banking reform possibly further limiting available credit lines to owners. Yet, the above will prove to be only a mere drop in the vast ocean of the future obstacles the shipping industry has to overcome. The worst possible effects of this banking reform will be with regards to trade rather than shipping investment itself. With shipping being a derived demand, this is something beyond the control of the industry’s players" said the report.
Intermodal's George Lazaridis said in the note that "what is in the industry players' control, is the performance of supply and how well it is organised to meet global requirements and that’s where the main focus should remain. As we stand now, it will be supply that will dictate the duration and extent of the damage caused to the industry. Owners have already taken steps to limit the fleet growth rate as much as they can. The noticeable delays and cancellations of newbuildings that have taken place this year have helped put a cap on the fleet growth rate. At the same time, thanks to a significant slowdown in new orders being placed, the orderbook has decreased dramatically. The final piece to the puzzle, though by no means of smaller importance, has been the record scrapping volumes witnessed this year" he said.
Lazaridis added that "with demand playing the most important role in giving a decisive direction to the market, it looks as though it may be heading for a drop, despite all these above measures taken. What’s important is to know by how much; If the stormy weather that is approaching is of “hurricane force”, we may find ourselves forming bridges of laid-up vessels. If on the other hand, we take the most optimistic case, it may well be that we will still have a number of troubled owners, witnessing their cash flows “run aground”. In any case this will leave distressed assets ripe for the picking for all those shipping funds that have amassed over the past years" he noted.
He concluded his argument by noting that "this may well seem like a repeat of the 80’s crisis, as mentioned countless times in conferences, articles and polite conversations, however it has more of the taste and feel of the 1930’s, which was a combined battle between a fleet oversupply that had amassed from the optimism of the roaring 20’s (70mill GT) and a recessive global economy brought about by an unprecedented financial collapse. Although this is in reference to a time that few, if any, are around to be able to give us a first account, nevertheless, it is notable to point out that at that time it took a major war to restructure the market and level things off between supply and demand. As it is highly unlikely and greatly undesirable for history to repeat itself, we will have to come to terms with the fact that market restructuring will have to come from within this time around. It will take a lot more sacrifices and restraints in order to bring a balance, as well as profitability once again to sectors such as dry bulkers and tankers" Intermodal's analyst concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- Central Electricity Authority - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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