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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, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Singapore Mercantile Exchange
- Minerals Council of Australia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
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