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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- The University of Queensland
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
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