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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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Thursday, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
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- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- The University of Queensland
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
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