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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
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- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- India Bulls Power Limited - India
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