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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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Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- MS Steel International - UAE
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Marubeni Corporation - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
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