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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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Wednesday, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
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