We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
 Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipping. According to Petrofin, Top 40 shipping banks’ lending has fallen since 2008 by 25%, whilst at the same time the world fleet has grown by 28%. On top of this, out of the banks that have decided to stay in the game, not all of them have the strength, the budget and the competitive terms to do so. As a result, the availability of financing for small-medium size companies has become a scarce, hence a luxury good. In other words, even when there is available financing for these companies, its cost is really prohibitive.
Apart from the banks’ endogenous and structural issues, their shipping departments also need to decide where to allocate their budget. In an era of growing LNG demand, numerous large shipping firms invest in the very capital intensive LNG carriers. Most of the large banks are there to support their very good clients. However, this means that a big percentage of their budget (and resources in general) end up to the LNG carriers’ financing, i.e. not much budget left for the remaining sectors/shipping projects. So, when these banks are left with a limited budget to spend, they become very selective and of course their pricing goes up as the list of the waiting finance projects is significant.
But what about the alternative ways of financing for the small and medium size companies? Asian leasing has indeed filled part of the gap that was created with the traditional banks’ exit, however, again this is available for owners with larger fleets and bigger ticket sizes. Public markets have been quiet regarding shipping in general; bond markets again require significant size. Therefore, the small companies are left with the option of the so called alternative financing. Private equity and hedge funds do have the funds to invest, but this only happens when they get the return of capital that they require; given that this most of the times is a double digit figure, then the capital cost for the small/medium ship owners increases dramatically.
There are quite a few new European banks that have joined ship financing – whose pricing sits in between the one of the traditional banks and that of leasing – however, their current budget is nowhere near to filling the gap that was left after the departure of the big banks.
Therefore, small-medium size shipping companies struggle to find competitive finance terms. Someone may argue that this had always been the case, however, in today’s ship finance market it is evident that the financing of small-medium size shipping companies is not the banks’ first priority, which should not be the case given the performance of such companies during recent years. Indeed, many small-medium size companies have proved their top quality and professionalism by not only surviving the crisis but also by getting back into expansion mode. There are many ship-owning companies falling into this category. Indicatively, only in Greek shipping there are more than 150 companies that own 3-15 bulk carriers, of more than 28,000 dwt and younger than 17 years old. A big percentage of these companies are long standing and solid companies; however, face the above finance issues.
This is the clientele that will provide the bank with projects of good credit quality and at the right pricing and therefore should be the one attracting the attention of ship financiers if they wish to make their business efficient and dynamic again.
By George Laios
Deputy CEO, Intermodal Group
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
|
|
|
Showing 1291 to 1295 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- The University of Queensland
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
|
| |
| |
|
