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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, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
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- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
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