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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
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