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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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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
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