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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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Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
Thursday, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
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- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- The Treasury - Australian Government
- Planning Commission, India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- The University of Queensland
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
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