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, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
|
|
|
Showing 3291 to 3295 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PTC India Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
|
| |
| |
|
