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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, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
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