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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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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
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- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- PTC India Limited - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
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