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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, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
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- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
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