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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
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