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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, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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Showing 16 to 20 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- The University of Queensland
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
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