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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, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
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