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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- White Energy Company Limited
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
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