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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
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