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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, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
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