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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, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
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