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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, 20 January 15
INDONESIAN COAL OUTPUT SEEN RISING, DESPITE FALL IN ITS PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week, but Indonesian Coal Output Seen Rising. T ...
Tuesday, 20 January 15
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY DECLINED 2.83% M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 1.45 per MT (-2.83%) month over month and US$ 0.50 (-0.99%) we ...
Monday, 19 January 15
HBA FALL TO FRESH LOWS; COAL OVERSUPPLY WILL CONTINUE TO PUSH PRICE DOWN
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 63.84. T ...
Monday, 19 January 15
CFR SOUTH CHINA COAL SWAPS REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 3.37 (-5.63%) per MT month over month and US$ 0.74 (-1.29%) ...
Monday, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
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- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
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