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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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Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
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- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
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- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
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- White Energy Company Limited
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- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Australian Coal Association
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- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
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