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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, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
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