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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, 20 January 15
INDONESIAN COAL OUTPUT SEEN RISING, DESPITE FALL IN ITS PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week, but Indonesian Coal Output Seen Rising. T ...
Tuesday, 20 January 15
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY DECLINED 2.83% M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 1.45 per MT (-2.83%) month over month and US$ 0.50 (-0.99%) we ...
Monday, 19 January 15
HBA FALL TO FRESH LOWS; COAL OVERSUPPLY WILL CONTINUE TO PUSH PRICE DOWN
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 63.84. T ...
Monday, 19 January 15
CFR SOUTH CHINA COAL SWAPS REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 3.37 (-5.63%) per MT month over month and US$ 0.74 (-1.29%) ...
Monday, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
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- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
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