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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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- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
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