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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, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
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- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- The University of Queensland
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
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