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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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Showing 4766 to 4770 news of total 6871 |
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- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
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