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.
|
|
Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
|
|
|
Showing 3196 to 3200 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- VISA Power Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Planning Commission, India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
|
| |
| |
|
