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