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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, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
Friday, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
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- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
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