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, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
|
|
|
Showing 3276 to 3280 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- The University of Queensland
- Deloitte Consulting - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
|
| |
| |
|
