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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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Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
Tuesday, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
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- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Planning Commission, India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
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