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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- White Energy Company Limited
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
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