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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, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
Monday, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
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- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- PTC India Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Romanian Commodities Exchange
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Star Paper Mills Limited - India
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