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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
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- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
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