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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
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