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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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Showing 91 to 95 news of total 6871 |
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- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
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