We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
 It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occurred, with rounds of recapitalizations, consolidations, buyouts and mergers and leaving today 4 major Greek systemic banks which are: National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank. € 8.3billion of Private funds were raised this year between them, allowing them to start expanding their portfolio as the overlooking state control is gradually relaxed, said Intermodal SnP Broker John N. Cotzias in his latest report.
In its latest report, shipbroker Intermodal further said that, the meetings between these banks and the officials of the ECB in Frankfurt last week has launched the final phase of the stress tests. One of the key issues put on the table was that of Greek Shipping loans. The Bank representatives had a direct opportunity to learn and receive clarifications on the details of the procedure and especially on how the findings of the AQR (Asset Quality Review) will blend with the results of the stress tests. Regarding their shipping loans, there were however differences between the Greek Banks’ outlook and that of the ECB, as there are contrasting opinions and predictions as to how the shipping markets will move in the future. Nevertheless the extra scrutiny that the ECB will need to perform in the case of the German Banks, fortunately puts Greek Banks as less of a concern for the time being.
According to Intermodal, it should be noted that the shipping portfolio held by Greek banks exceeds € 8bil, while Greek shipping’s total loans provided by both Greek and foreign banks exceeds € 12bil. According to 2Q2014 results, Piraeus Bank is the leader with a portfolio of nearly € 3bil. National Bank of Greece has € 1.9bil euros while Alpha Bank has € 1.7bil and Eurobank totals € 1bil. Aegean Baltic Bank concludes the list of the top major Greek Shipping banks, holding a portfolio of € 0.3bil.
National Bank of Greece has stated that they are already there to provide new loans and in 2014 a big part of their € 700mil budget has been committed and most of it withdrawn already. It seems that it is the first time post crisis that these major Greek Banks are trying to create new accounts instead of providing financing to a selective existing clientele, and the space provided by traditional foreign banks that have withdrawn their presence from Shipping leaves an opportunistic space for Greek Banks to obtain new clients. However despite any premature optimism, we have to note the Greek banks still face an uncompetitive cost of lending, as the cost of obtaining funding is still a bet that needs to be settled.
Intermodal noted, as portrayed in the BlackRock Exercise results published this year, the Shipping portfolio of Greek Banks shows very low loss rates, and the NPL’s are considered the lowest amongst the spectrum of their overall lending. Based on this fact, Greek Bank Ship-lending can soon find the right time to re-enter as vessel values are at levels that can be considered again attractive and the amount of risk involved in bank lending is not that great if done in a prudent manner. In addition all banks continue to proceed with their own restructuring and reorganization, and we expect that by 2015 bank lending will be back to “business as usual”, and will slowly reach within grasps reach for most Greek Ship-owners.
One thing that we have to stress and this comes merely out of our own personal experience, is that from these major Greek Banks, their highly prized experience and knowledge puts them ahead of the crowd in attracting and accepting the “right type” of shipping investment proposals, the shipbroker concluded.
Compiled by:
Intermodal Research & Valuations
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
|
|
|
Showing 3496 to 3500 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
|
| |
| |
|
