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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, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
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- Planning Commission, India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
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