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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, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
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