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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
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