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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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Showing 5051 to 5055 news of total 6871 |
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- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- The University of Queensland
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
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