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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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Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
...
Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
Tuesday, 20 January 15
INDIA TO SURPASS THE UNITED STATES AND BECOME THE SECOND-LARGEST COAL CONSUMER IN THE WORLD BY 2019 - IMF
COALspot.com: In 2013, coal added more primary energy than any other fuel and was the fastest-growing fossil fuel, enhancing its position as the se ...
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- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
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