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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
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