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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, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Eastern Coal Council - USA
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
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