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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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Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
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- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- ASAPP Information Group - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
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