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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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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
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- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- VISA Power Limited - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- CNBM International Corporation - China
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
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