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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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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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