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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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Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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