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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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Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
Friday, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
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- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
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