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Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
 It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers and financiers of shipping. There is restructuring amongst commodity traders. There is restructuring amongst shipbuilders. There is restructuring amongst ship owners. There is even restructuring of the fleet, said George Lazaridis
In his weekly report.
According to George Lazaridis, Head of Market Research & Asset Valuations of Allied Ship broking, It has certainly been the case that there were many issues in the market that needed to be “corrected” and as earnings dipped across all market sectors the urgency of these corrections increased. The reality is that earnings across all parts of the shipping industry have been under strain for over 5 year now, but as things got more difficult there was little that was being done to purge the issues, while in some cases the over exuberance held by many in the industry led them to take further steps which would inevitably cause further issues down the line.
The broker further said, taking the case of the shipbuilding industry for one and looking at what the IMF recently pointed out while discussing the restructuring burden that S. Korea would have to face now, it is clear that in part it was commercial decisions being made on the part of shipbuilders that led them to such high corporate debt problems and problematic cash flows.
Had it not been for the excessive push for ever bigger operations and more shipbuilding contracts and we would not be facing such a massive glut in supply today. In retrospect the approach that Japanese shipbuilders took to restructure, consolidate and optimize shipbuilding operations proved to be the right decision, while trying to take this approach today is a lot harder than it would have been had it been done 2-4 years earlier. This is not only an isolated case present only in S. Korea alone. Similar points can be made about the Chinese shipbuilding industry, as well as other parts of the shipping industry.
The Allied broker further noted, for one there are numerous voices out there that throw blame on the ship financing sector and granted that in part it was both the ease by which financing continued to be provide to a select few in the market and the direction it took, but equally to blame were those who took up the option without safeguarding their interests and calculating the increased risk they put themselves into.
According to the Greece-based shipbroker, In terms of direction this financing took, the issue was as to how much of this was being pushed over towards new buildings on the grounds that new designs were more competitive and newer units were less risky options for the financier. This would inevitably mean that we were always overshooting what demand would dictate we needed to have. Let’s not forget that most who placed these new “ECO” ships were doing so while saying that these new ships would push the older designs out of the market and make them obsolete.
The Allied said that the restructuring which is now being undertaken may well have been overdue, but nevertheless it has not come too late.
The Allied concluded that things are slowly starting to improve as corrections are made. Shipbuilding capacity has decreased and will likely continue to decrease over the coming months. The orderbook has also dropped rapidly, while ship supply has been kept fairly well balanced in most sectors and segments. There has been a considerable amount of debt from ship owners that has been restructured and refinanced while it has also encompassed a more realistic approach to the risks at hand. All these might not sound as much today as they tend to be the consequence of the poor decisions made in the past, but one needs to keep in mind that they must also be seen as the kick-off that will inevitably lead us onwards on to the next boom.
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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Showing 51 to 55 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
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