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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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Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
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- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
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