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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, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
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- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- The University of Queensland
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- White Energy Company Limited
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
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