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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, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
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- Australian Coal Association
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
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