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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, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
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