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.
|
|
Wednesday, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its producti ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
Monday, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
|
|
|
Showing 3216 to 3220 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- MS Steel International - UAE
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
|
| |
| |
|
