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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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Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
...
Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
Tuesday, 20 January 15
INDIA TO SURPASS THE UNITED STATES AND BECOME THE SECOND-LARGEST COAL CONSUMER IN THE WORLD BY 2019 - IMF
COALspot.com: In 2013, coal added more primary energy than any other fuel and was the fastest-growing fossil fuel, enhancing its position as the se ...
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- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- The University of Queensland
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Posco Energy - South Korea
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
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