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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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Thursday, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
Thursday, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...
Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview
A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...
Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to restart it ...
Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial electricity demand ...
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- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
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