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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
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- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
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