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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 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Planning Commission, India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
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