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