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.
|
|
Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As s ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
New patterns emerging as energy demand growth decoupled significantly from GDP growth for the first time in 2014
Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
|
|
|
Showing 3226 to 3230 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
|
| |
| |
|
