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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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Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
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- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
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