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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, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
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