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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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Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
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- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
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