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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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Showing 66 to 70 news of total 6871 |
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- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
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