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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
|
|
|
Showing 3536 to 3540 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
|
| |
| |
|
