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.
|
|
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
|
|
|
Showing 1376 to 1380 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
|
| |
| |
|
