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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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Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
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- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
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