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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Planning Commission, India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
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