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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, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
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