We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
 It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers and financiers of shipping. There is restructuring amongst commodity traders. There is restructuring amongst shipbuilders. There is restructuring amongst ship owners. There is even restructuring of the fleet, said George Lazaridis
In his weekly report.
According to George Lazaridis, Head of Market Research & Asset Valuations of Allied Ship broking, It has certainly been the case that there were many issues in the market that needed to be “corrected” and as earnings dipped across all market sectors the urgency of these corrections increased. The reality is that earnings across all parts of the shipping industry have been under strain for over 5 year now, but as things got more difficult there was little that was being done to purge the issues, while in some cases the over exuberance held by many in the industry led them to take further steps which would inevitably cause further issues down the line.
The broker further said, taking the case of the shipbuilding industry for one and looking at what the IMF recently pointed out while discussing the restructuring burden that S. Korea would have to face now, it is clear that in part it was commercial decisions being made on the part of shipbuilders that led them to such high corporate debt problems and problematic cash flows.
Had it not been for the excessive push for ever bigger operations and more shipbuilding contracts and we would not be facing such a massive glut in supply today. In retrospect the approach that Japanese shipbuilders took to restructure, consolidate and optimize shipbuilding operations proved to be the right decision, while trying to take this approach today is a lot harder than it would have been had it been done 2-4 years earlier. This is not only an isolated case present only in S. Korea alone. Similar points can be made about the Chinese shipbuilding industry, as well as other parts of the shipping industry.
The Allied broker further noted, for one there are numerous voices out there that throw blame on the ship financing sector and granted that in part it was both the ease by which financing continued to be provide to a select few in the market and the direction it took, but equally to blame were those who took up the option without safeguarding their interests and calculating the increased risk they put themselves into.
According to the Greece-based shipbroker, In terms of direction this financing took, the issue was as to how much of this was being pushed over towards new buildings on the grounds that new designs were more competitive and newer units were less risky options for the financier. This would inevitably mean that we were always overshooting what demand would dictate we needed to have. Let’s not forget that most who placed these new “ECO” ships were doing so while saying that these new ships would push the older designs out of the market and make them obsolete.
The Allied said that the restructuring which is now being undertaken may well have been overdue, but nevertheless it has not come too late.
The Allied concluded that things are slowly starting to improve as corrections are made. Shipbuilding capacity has decreased and will likely continue to decrease over the coming months. The orderbook has also dropped rapidly, while ship supply has been kept fairly well balanced in most sectors and segments. There has been a considerable amount of debt from ship owners that has been restructured and refinanced while it has also encompassed a more realistic approach to the risks at hand. All these might not sound as much today as they tend to be the consequence of the poor decisions made in the past, but one needs to keep in mind that they must also be seen as the kick-off that will inevitably lead us onwards on to the next boom.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
|
|
|
Showing 46 to 50 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
|
| |
| |
|
