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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
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- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- PTC India Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
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