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, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
|
|
|
Showing 1356 to 1360 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
|
| |
| |
|
