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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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Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
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- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
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