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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, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
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- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- The University of Queensland
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
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