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Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the past few years, as more and more traditional banks were exiting the shipping segment. At the present time, the above problems have been aggravated further by a collapsing dry bulk market and an ongoing Euro crisis, said Mr. George Lazaridis, Head of Market Research & Asset Valuations with Allied Shipbroking.
According to Mr. Lazaridis “most of these owners, holders of up to five vessels, have been reduced in number considerably over the past 5 years, pressured by a lack in earnings and tougher conditions and low availability in bank finance since the 2008 onslaught. The problems for this significant group of Greek ship owners have been mentioned over and over again. Most of the traditional banks had already retract-ed much of their lending capacity and on the basis that they would take a more con-servative approach to new loans, most of these lenders chose to focus on a smaller cli-entele of larger more prominent names. What made things even worse was the pilling on of new sources of finance, brought about by the numerous funds which got enticed to enter the market supporting only owners of larger fleets and pushing for them to purchase more modern tonnage as well as newbuilding ordering. Having been left out from this inflow of cash has cost most of the smaller owners dearly, as with the excep-tion of the ones holding cash reserves, the rest were left out of any opportunities to modernise their tonnage during a time were prices reached highly enticing levels. This in turn means that most of these owners have been left with overage units which are put under more pressure in the chartering market”, Lazaridis noted in the shipbroker’s latest weekly report.
He went on to note that “what changed now, is that the current conditions in the dry bulk freight market (a mar-ket where most of these small to medium sized owners are involved in) has been hit hard, squeezing earnings down to a minimal. Under such times, owners which would have liked to be able to refinance their vessels in order to achieve a better position in terms of cash flow, have little choice, while those holding overage units are even pushed towards the difficult decision of selling their only vessel for scrap (noting here that scrap prices have taken a strong tumble recently). At the same time the few which were still able to find some support from the Greek and European banks which were still willing to keep their long relationships with these owners, found themselves under pressure as the current problems tackled in Europe are causing a further cautioning by banks which are afraid of being caught up in further restrictions of available cash as well as losses brought about their exposure in sovereign debt bonds and in general a higher rate of loan defaults. For anyone who has been around for many years in the shipping industry, this is nothing new and during past market collapses there has al-ways been many which have found themselves being pushed out of the market”.
Allied’s analyst added that “this time around though it is vital that we have a continuation of this large group of Greek owners (accounting for over half of Greek shipping companies), as they are the ones which are likely to provide the largest portion of support from shipping to the Greek economy during its time of difficulty, continually providing a stream of earnings into the country through the export of a very competitive service and as such support-ing the countries trade balance. Nevertheless, even with an exit of a number of these owners, it will likely be only a temporary one, as the other end of the cycle usually brings an opposite effect. Greek shipping is going through one of its most testing times and it will show its true worth after managing to make it through the worst crisis seen during the past three decades”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
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