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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, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
Friday, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
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- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- The University of Queensland
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
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