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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, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
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- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
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