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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, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
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- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Minerals Council of Australia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Planning Commission, India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
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