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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, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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Showing 5426 to 5430 news of total 6871 |
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- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- The University of Queensland
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
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