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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
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