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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Central Java Power - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- The University of Queensland
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
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