We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
|
|
|
Showing 3186 to 3190 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GMR Energy Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Planning Commission, India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- The University of Queensland
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
|
| |
| |
|
