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.
|
|
Monday, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
Friday, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
|
|
|
Showing 3221 to 3225 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
|
| |
| |
|
