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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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Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
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- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
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