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Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the past few years, as more and more traditional banks were exiting the shipping segment. At the present time, the above problems have been aggravated further by a collapsing dry bulk market and an ongoing Euro crisis, said Mr. George Lazaridis, Head of Market Research & Asset Valuations with Allied Shipbroking.
According to Mr. Lazaridis “most of these owners, holders of up to five vessels, have been reduced in number considerably over the past 5 years, pressured by a lack in earnings and tougher conditions and low availability in bank finance since the 2008 onslaught. The problems for this significant group of Greek ship owners have been mentioned over and over again. Most of the traditional banks had already retract-ed much of their lending capacity and on the basis that they would take a more con-servative approach to new loans, most of these lenders chose to focus on a smaller cli-entele of larger more prominent names. What made things even worse was the pilling on of new sources of finance, brought about by the numerous funds which got enticed to enter the market supporting only owners of larger fleets and pushing for them to purchase more modern tonnage as well as newbuilding ordering. Having been left out from this inflow of cash has cost most of the smaller owners dearly, as with the excep-tion of the ones holding cash reserves, the rest were left out of any opportunities to modernise their tonnage during a time were prices reached highly enticing levels. This in turn means that most of these owners have been left with overage units which are put under more pressure in the chartering market”, Lazaridis noted in the shipbroker’s latest weekly report.
He went on to note that “what changed now, is that the current conditions in the dry bulk freight market (a mar-ket where most of these small to medium sized owners are involved in) has been hit hard, squeezing earnings down to a minimal. Under such times, owners which would have liked to be able to refinance their vessels in order to achieve a better position in terms of cash flow, have little choice, while those holding overage units are even pushed towards the difficult decision of selling their only vessel for scrap (noting here that scrap prices have taken a strong tumble recently). At the same time the few which were still able to find some support from the Greek and European banks which were still willing to keep their long relationships with these owners, found themselves under pressure as the current problems tackled in Europe are causing a further cautioning by banks which are afraid of being caught up in further restrictions of available cash as well as losses brought about their exposure in sovereign debt bonds and in general a higher rate of loan defaults. For anyone who has been around for many years in the shipping industry, this is nothing new and during past market collapses there has al-ways been many which have found themselves being pushed out of the market”.
Allied’s analyst added that “this time around though it is vital that we have a continuation of this large group of Greek owners (accounting for over half of Greek shipping companies), as they are the ones which are likely to provide the largest portion of support from shipping to the Greek economy during its time of difficulty, continually providing a stream of earnings into the country through the export of a very competitive service and as such support-ing the countries trade balance. Nevertheless, even with an exit of a number of these owners, it will likely be only a temporary one, as the other end of the cycle usually brings an opposite effect. Greek shipping is going through one of its most testing times and it will show its true worth after managing to make it through the worst crisis seen during the past three decades”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
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- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Planning Commission, India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
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