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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- The University of Queensland
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- MS Steel International - UAE
- VISA Power Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
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