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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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Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
Friday, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
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- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
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