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.
|
|
Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
|
|
|
Showing 3556 to 3560 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
|
| |
| |
|
