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Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most important issue plaguing freight markets, the shipping industry is looking at yet another challenging year ahead, as 2013 is edging closer and closer. According to most market analysts, a potential recovery has to be postponed until at least 2014, but things could get even worse in the meantime, as a result of potentially further troubles in Europe.
According to Intermodal's latest analysis report, "the hit this time will be taken by the already crippled ship finance sector, with the upcoming banking reform possibly further limiting available credit lines to owners. Yet, the above will prove to be only a mere drop in the vast ocean of the future obstacles the shipping industry has to overcome. The worst possible effects of this banking reform will be with regards to trade rather than shipping investment itself. With shipping being a derived demand, this is something beyond the control of the industry’s players" said the report.
Intermodal's George Lazaridis said in the note that "what is in the industry players' control, is the performance of supply and how well it is organised to meet global requirements and that’s where the main focus should remain. As we stand now, it will be supply that will dictate the duration and extent of the damage caused to the industry. Owners have already taken steps to limit the fleet growth rate as much as they can. The noticeable delays and cancellations of newbuildings that have taken place this year have helped put a cap on the fleet growth rate. At the same time, thanks to a significant slowdown in new orders being placed, the orderbook has decreased dramatically. The final piece to the puzzle, though by no means of smaller importance, has been the record scrapping volumes witnessed this year" he said.
Lazaridis added that "with demand playing the most important role in giving a decisive direction to the market, it looks as though it may be heading for a drop, despite all these above measures taken. What’s important is to know by how much; If the stormy weather that is approaching is of “hurricane force”, we may find ourselves forming bridges of laid-up vessels. If on the other hand, we take the most optimistic case, it may well be that we will still have a number of troubled owners, witnessing their cash flows “run aground”. In any case this will leave distressed assets ripe for the picking for all those shipping funds that have amassed over the past years" he noted.
He concluded his argument by noting that "this may well seem like a repeat of the 80’s crisis, as mentioned countless times in conferences, articles and polite conversations, however it has more of the taste and feel of the 1930’s, which was a combined battle between a fleet oversupply that had amassed from the optimism of the roaring 20’s (70mill GT) and a recessive global economy brought about by an unprecedented financial collapse. Although this is in reference to a time that few, if any, are around to be able to give us a first account, nevertheless, it is notable to point out that at that time it took a major war to restructure the market and level things off between supply and demand. As it is highly unlikely and greatly undesirable for history to repeat itself, we will have to come to terms with the fact that market restructuring will have to come from within this time around. It will take a lot more sacrifices and restraints in order to bring a balance, as well as profitability once again to sectors such as dry bulkers and tankers" Intermodal's analyst concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Australian Coal Association
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
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