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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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Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Planning Commission, India
- VISA Power Limited - India
- Interocean Group of Companies - India
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