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.
|
|
Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
|
|
|
Showing 3526 to 3530 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- The University of Queensland
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
|
| |
| |
|
