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already there to provide new loans and in 2014 a big part of their € 700mil budget has been committed and most of it withdrawn already.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.
|
|
Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
|
|
|
Showing 3406 to 3410 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- MS Steel International - UAE
- Australian Coal Association
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
|
| |
| |
|
