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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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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- The University of Queensland
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Australian Coal Association
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
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