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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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Showing 76 to 80 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
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