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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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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
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- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
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