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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, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
...
Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
Friday, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
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Showing 3551 to 3555 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
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