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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, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- The University of Queensland
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
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