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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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Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
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