We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
 It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occurred, with rounds of recapitalizations, consolidations, buyouts and mergers and leaving today 4 major Greek systemic banks which are: National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank. € 8.3billion of Private funds were raised this year between them, allowing them to start expanding their portfolio as the overlooking state control is gradually relaxed, said Intermodal SnP Broker John N. Cotzias in his latest report.
In its latest report, shipbroker Intermodal further said that, the meetings between these banks and the officials of the ECB in Frankfurt last week has launched the final phase of the stress tests. One of the key issues put on the table was that of Greek Shipping loans. The Bank representatives had a direct opportunity to learn and receive clarifications on the details of the procedure and especially on how the findings of the AQR (Asset Quality Review) will blend with the results of the stress tests. Regarding their shipping loans, there were however differences between the Greek Banks’ outlook and that of the ECB, as there are contrasting opinions and predictions as to how the shipping markets will move in the future. Nevertheless the extra scrutiny that the ECB will need to perform in the case of the German Banks, fortunately puts Greek Banks as less of a concern for the time being.
According to Intermodal, it should be noted that the shipping portfolio held by Greek banks exceeds € 8bil, while Greek shipping’s total loans provided by both Greek and foreign banks exceeds € 12bil. According to 2Q2014 results, Piraeus Bank is the leader with a portfolio of nearly € 3bil. National Bank of Greece has € 1.9bil euros while Alpha Bank has € 1.7bil and Eurobank totals € 1bil. Aegean Baltic Bank concludes the list of the top major Greek Shipping banks, holding a portfolio of € 0.3bil.
National Bank of Greece has stated that they are already there to provide new loans and in 2014 a big part of their € 700mil budget has been committed and most of it withdrawn already. It seems that it is the first time post crisis that these major Greek Banks are trying to create new accounts instead of providing financing to a selective existing clientele, and the space provided by traditional foreign banks that have withdrawn their presence from Shipping leaves an opportunistic space for Greek Banks to obtain new clients. However despite any premature optimism, we have to note the Greek banks still face an uncompetitive cost of lending, as the cost of obtaining funding is still a bet that needs to be settled.
Intermodal noted, as portrayed in the BlackRock Exercise results published this year, the Shipping portfolio of Greek Banks shows very low loss rates, and the NPL’s are considered the lowest amongst the spectrum of their overall lending. Based on this fact, Greek Bank Ship-lending can soon find the right time to re-enter as vessel values are at levels that can be considered again attractive and the amount of risk involved in bank lending is not that great if done in a prudent manner. In addition all banks continue to proceed with their own restructuring and reorganization, and we expect that by 2015 bank lending will be back to “business as usual”, and will slowly reach within grasps reach for most Greek Ship-owners.
One thing that we have to stress and this comes merely out of our own personal experience, is that from these major Greek Banks, their highly prized experience and knowledge puts them ahead of the crowd in attracting and accepting the “right type” of shipping investment proposals, the shipbroker concluded.
Compiled by:
Intermodal Research & Valuations
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
|
|
|
Showing 3401 to 3405 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Marubeni Corporation - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
|
| |
| |
|
