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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
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