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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, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
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