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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Minerals Council of Australia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Australian Coal Association
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
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