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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, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
Monday, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
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- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
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