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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, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
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