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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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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
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