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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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Monday, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
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