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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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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
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