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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Planning Commission, India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
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