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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, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
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