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