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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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Showing 61 to 65 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Australian Coal Association
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
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