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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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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Minerals Council of Australia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
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