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.
|
|
Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
|
|
|
Showing 116 to 120 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Australian Coal Association
|
| |
| |
|
