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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, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- White Energy Company Limited
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Planning Commission, India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
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