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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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Showing 71 to 75 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
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