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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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- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
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