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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, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
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- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
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