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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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Showing 16 to 20 news of total 6871 |
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- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Planning Commission, India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
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