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, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
Wednesday, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
|
|
|
Showing 3326 to 3330 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
|
| |
| |
|
