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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
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