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already there to provide new loans and in 2014 a big part of their € 700mil budget has been committed and most of it withdrawn already.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, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
|
|
|
Showing 3416 to 3420 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
|
| |
| |
|
