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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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Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
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