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.
|
|
Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
|
|
|
Showing 3291 to 3295 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Planning Commission, India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- VISA Power Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
|
| |
| |
|
