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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
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- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- The University of Queensland
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
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