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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, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
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- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
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