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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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Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
...
Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Planning Commission, India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- The University of Queensland
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
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