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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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Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
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