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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, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
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- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- London Commodity Brokers - England
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
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