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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, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
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- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
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