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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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Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Australian Coal Association
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- The University of Queensland
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
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