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.
|
|
Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
|
|
|
Showing 3311 to 3315 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
|
| |
| |
|
