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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
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