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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
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- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
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- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
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- Australian Commodity Traders Exchange
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- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
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- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
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- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- MS Steel International - UAE
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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