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.
|
|
Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
|
|
|
Showing 3566 to 3570 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Minerals Council of Australia
- Australian Coal Association
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
|
| |
| |
|
