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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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Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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Showing 5041 to 5045 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
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