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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 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
Tuesday, 18 October 16
COAL PRICES KEPT CLIMBING
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
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- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
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