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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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