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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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Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
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- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Australian Coal Association
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
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