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Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
 Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating costs, limited investments and control over chartering orders. He was among the speakers of a conference organized in Athens this week and titled: “Shipping Today & Tomorrow -International Developments, Trends and Investments in the Greek and International Shipping-Tourism Market”. According to Mr. Polemis the market will begin its comeback during 2013 or even 2014, provided that no more newbuilding orders are placed.
On the issue of shipping finance, Mr. George Gourdomichalis, head of G. Bros Maritime mentioned that things are getting more and more difficult for the backbone of the Hellenic maritime industry, which is comprised of 600-700 small and medium-sized family shipping companies, owning and managing fleets of about 6 vessels each. He also stated that ship values have dropped, which means that the cost of financing is also being increased, given that since the start of 2009, banks have been increasing speads even in older loan deals, while they are also providing finance only to their older clients.
Speaking on the same matter, Mr. Michalis Bodouroglou, President and CEO of New York-listed Paragon Shipping said that ship values are falling, the risk is high compared to the value and there is limited liquidity. On the other hand, as he stressed, the current crisis creates opportunities and businesses with strong balances will emerge reinforced from this situation and will grow even more. Mr. Bodouroglou also provided with a positive note regarding the current difficulties in securing financing, since the reduction in numbers of newbuilding orders, maximizes the prospects of developing the current ones.
An issue which has risen recently revolves around the Hellenic shipowners’ stance towards the country’s troubled economy. Mr. Polemis said that Hellenic shipowners could invest in other sectors of the country’s economy (some are already doing exactly that), like tourism, ports, green energy, natural gas and oil. Still, besides the patriotism they have exhibited they aren’t any different from most investors, in the fact that the Hellenic economy is lacking in institutional and legislative frameworks necessary to attract invesments and a bad public sector. Speaking on the matter, Mr. Bodouroglou said that the Hellenic shipowners are staying in Hellas by choice and ask nothing in return from the State. Hellas is a maritime centre. All banks, all shipbrokers and all shipbuilders are located here. According to Mr. Gourdomichalis, the presence of the country’s maritime industry provides the State with power and prestige when speaking with its piers and investors. Hellenic Shipping represents a market share greated than 50% of the EU and nearly 20% worldwide. It’s the No1 pillar of the country’s economy, with current account balance of over 140 billion euros during the past decade he said.
Mr. Alexandros Tourkolias, deputy CEO of NBG (National Bank of Greece) spoke about the international financial crisis and its implications on shipping, pointing out to the rise of the cost of money, as one of the key problems faced by shipowners and shipping companies. Mr. Tourkolias also talked about the significant improvement of the average age of the Hellenic fleet, which has fallen from 22 years old back in the early 90s to only 15 years old today. Finally, he said that the current debt crisis is causing banks to adopt more cautious strategies in terms of providing loans, while they are also limiting their available capital, ahead of probable recapitalizations.
Mr. Antonis Lamnidis, senior executive with HSBC said that shipping financing has upward and downward cycles, mentioning that the Hellenic shipping industry is in good state, having placed orders for 600 newbuilding vessels, of a total value of $7.5 billion.
Mr. George Xiradakis, CEO of XRTC Business Consultants talked about the growing role and importance that Chinese banks could have in the country’s shipping, helping shipowners in a decisive matter. Having extensive knowledge of the Chinese banking market, Mr. Xiradakis said that the country’s banks are internationalizing and investing heavily in whatever they can get their hands on both in Europe and in Africa. In terms of shipping finance they have increased their exposure providing loans for deals worth $89.3 billion, out of the total of $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
Friday, 18 September 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
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- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Ministry of Mines - Canada
- White Energy Company Limited
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- The University of Queensland
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Australian Coal Association
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
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