We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
|
|
|
Showing 3186 to 3190 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Videocon Industries ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
|
| |
| |
|
