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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, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
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- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
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