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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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Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
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