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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, 13 October 14
INDONESIAN COAL SWAPS FOR DELIVERY Q4' 2014 GAINED WEEK ON WEEK AND DAY ON DAY
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 gained week on week and day on day.
The swap lost US$ 0.13 (-0.25%) month on mon ...
Monday, 13 October 14
Q1' 2015 CFR SOUTH CHINA COAL SWAP CLOSED US$ 0.31 PMT HIGHER THAN Q4' 2014 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 0.66 (-1.00%) month over month and US$ 0.40 (-0.61%) ...
Sunday, 12 October 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE WEAK - VISTAAR
COALspot.com: This week all the segments softened. The BDI down 7.13 pct week on week and closed below 1000 points at 963 points.
The Cape ind ...
Saturday, 11 October 14
COAL PRODUCTION RISES ONLY SLIGHTLY AS GOVT LIMITS MINING OPERATIONS - THE JAKARTA POST
Indonesian coal production rose by only 4 percent in the first nine months of this year, a relatively low increase compared to previous years, as t ...
Friday, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
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- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
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