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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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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
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