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.
|
|
Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
|
|
|
Showing 3331 to 3335 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
|
| |
| |
|
