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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, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
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