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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Australian Coal Association
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
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