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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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- Anglo American - United Kingdom
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
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