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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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Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
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