We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
|
|
|
Showing 3471 to 3475 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- The University of Queensland
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
|
| |
| |
|
