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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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Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
Wednesday, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
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- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Australian Coal Association
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
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