We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
|
|
|
Showing 96 to 100 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
|
| |
| |
|
