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