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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, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- The University of Queensland
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Marubeni Corporation - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- PTC India Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Planning Commission, India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
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