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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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Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
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