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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, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
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- PowerSource Philippines DevCo
- VISA Power Limited - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Planning Commission, India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
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