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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
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- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- PTC India Limited - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
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