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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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Showing 61 to 65 news of total 6871 |
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- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
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