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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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Tuesday, 18 October 16
PANAMAX: A FAIRLY POSITIVE END TO THE WEEK - ALLIED
Capesize
Things seemed to be moving sideways during the first half of the week, with resistance being felt as owners tried to resist any further ...
Monday, 17 October 16
THE FREIGHT MARKET WAS SOFTENED IN ALL SEGMENTS THIS PAST WEEK - VISTAAR
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 14 October 16
SUPRAMAXES: DELIVERY SINGAPORE ARE SETTLING AROUND HIGH 6K'S FOR COAL TRIPS TO CHINA VIA INDO - FEARNLEY
Supramax
Wait and see attitude prevailing all over the market.
There have been several fresh cargoes, which have been efficiently covered by ...
Friday, 14 October 16
U.S. SHIPPED 3.3 MMST COAL IN JULY 2016; DECLINE 40% M/M
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.6 million short ton ...
Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
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Showing 2251 to 2255 news of total 6871 |
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- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- The University of Queensland
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- White Energy Company Limited
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
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