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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 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Planning Commission, India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
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