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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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Showing 4811 to 4815 news of total 6871 |
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- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Planning Commission, India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
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