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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, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
...
Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
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- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Australian Coal Association
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bhatia International Limited - India
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