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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, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
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