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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, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
Monday, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
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- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Planning Commission, India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
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