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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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Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Planning Commission, India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
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