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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Planning Commission, India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
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