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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Planning Commission, India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
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