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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, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
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