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.
|
|
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
|
|
|
Showing 3601 to 3605 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
|
| |
| |
|
