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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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Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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Showing 5041 to 5045 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Planning Commission, India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
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