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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, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
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