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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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Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
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