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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, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
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