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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
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