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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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- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- The University of Queensland
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
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