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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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Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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Showing 4711 to 4715 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
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