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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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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
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- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- The University of Queensland
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Parliament of New Zealand
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
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