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.
|
|
Monday, 07 July 14
SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL SHIPPED 12% LESS COAL IN JUNE COMPARED TO MAY EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 4.91 million tons ...
Monday, 07 July 14
INDONESIAN SUB-BIT COAL SWAPS FOR Q3 DELIVERY CRASHES THROUGH $ 54.50
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, 07 July 14
API 8 CFR SOUTH CHINA COAL SWAPS SHOW A DOWNWARD TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 drops US$ 5.47 month on month on Friday, dipping under $68 a ton. The CFR South Ch ...
Sunday, 06 July 14
PANAMAX INDEX BEING THE BIGGEST GAINER THIS WEEK; UP 52.75% W-O-W
COALspot.com: This week there was some positive signs in all the sectors. The Panamax index being the biggest gainer this week after losing for sev ...
Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
|
|
|
Showing 3621 to 3625 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Australian Coal Association
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
|
| |
| |
|
