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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, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- London Commodity Brokers - England
- Latin American Coal - Colombia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
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