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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, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
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- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
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