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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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Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Aditya Birla Group - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
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