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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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Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Thai Mozambique Logistica
- Petron Corporation, Philippines
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