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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.
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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Showing 51 to 55 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
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